Selling stake in Partex might give Gulbenkian 500 million euros

  • ECO News
  • 2 February 2018

The sale of Gulbenkian's stake in the petrol Partex migh give 500 million euros to the Foundation. The deal will only move forward if António Costa Silva continues leading Partex.

Fundação Calouste Gulbenkian revealed they are negotiating with the Chinese of CEFC China Energy the sale of their stake in the oil company Partex. Far from being concluded, the sale might give 500 million euros to the Foundation, and will only move forward if Partex continues being headed by António Costa Silva.

The information was disclosed by the Portuguese newspaper Jornal de Negócios, which ascertained that this sale implies that António Costa da Silva continues on the leadership of Partex. For now, the Chinese from CEFC China Energy await a green light from the regulator. The 500 million euros the oil company is worth will be invested in other assets, according to the same newspaper.

The shares Partex held in companies devoted to exploiting black gold and natural gas were assessed in 495 million euros, in 2016. Adding this up, according to the Foundation’s accounts report, the portfolio of financial assets was worth 2,247 million euros.