Aga Khan’s affair with Taguspark: the Ismaeli leader wants CGD’s 10% share

  • ECO News
  • 16 July 2018

The Ismaeli leader is considering the acquisition of CGD's Taguspark 10% share. His goal of being a shareholder of Oeiras' science and tech park can happen quite soon.

Aga Khan’s network showed interest in taking part of the Taguspark shares specifically aiming to detain CGD’s 10% stake.

The Portuguese bank, CGD, has to get rid of these shares in line with the recent impositions made by the European Commission. The transaction will depend as well on the approval from the Portuguese Finance Minister, Mário Centeno.

Accordingly to the Portuguese newspaper, Jornal de Negócios (JN), the leader of the Ismaeli community has been showing a vested interested in Taguspark for several months now and will use CGD’s 10% offer to achieve his much-desired position at the science and technology park located in Oeiras.

The Portuguese bank, headed by Paulo Macedo, has chosen to sell its Taguspark assets with a call for tenders. The process is quite delayed as the operation was supposed to be closed last year already. Without adding impairment costs, the value of the operation stands at €2,17m (in gross terms). The value does not, however, reflect the current market value. Thus, it might not be accurate and needs to be readjusted.

The Portuguese State’s bank declined to comment, but a source of the Ismaeli community has pointed out that “at this moment there is no final decision regarding this acquisition”.

Aga Khan visited Portugal in the occasion of his Diamond Jubilee Celebration, a milestone as a leader of the Ismaeli community for 60 years.

He also announced during the visit that the Ismaeli community’s headquarters will move to Lisbon next year, pleasantly considering Portugal as a land of opportunity and the ideal place for the community to settle its operations’ head office.