The transaction is not subject to a financing condition. And Barclays. The Versace family will also receive Euro 150 million of the purchase price in shares of Capri Holdings Limited. The real mystery here is how VDOT final estimate of $436M was presented to the BOS (or, more accurately, the four members of the board who held an unannounced midnight vote to approve the Western Bypass) and to the CTB as merely $197M. If projects have been coming in 15 30% below engineers estimates, then presumably the engineers estimates have dropped accordingly presumably that something that engineers would have factored in as recently as June. Even then, 30% below VDOT estimate is still $152M over budget..
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