“The proposal was carefully analyzed,” said António Costa Silva. The official said there were three main factors that prompted the government to choose the German proposal: “It ensures the continuation of Efacec, the preservation of the workforce and minimizes the burden on the state, which will be able to restore most if not all of the investments he made in the company,” he declared.
In addition to the Germans, two other funds, Oxu Capital and Oaktree, as well as an industrial group created by Visabeira and Sodecia, fought to acquire the state’s stake.
This ended a process that dates back to the summer of 2020, when management nationalized 71.73% of the company’s capital, which was owned by Isabel dos Santos. The decision was made following the involvement of an Angolan businesswoman in the Luanda Leaks scandal.
Since Efacec was nationalized, accumulated losses €310 million.
Mutares is The German industrial holding is listed on the Frankfurt Stock Exchange. On June 1, its market capitalization was 492 million euros.
The other shareholders of Efacec are Grupo Jose de Mello with 14% and Têxtil Manuel Goncalves with 14.27%.
Author: business magazine
Source: CM Jornal
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