Chinese company evaluates acquisition of 30% of Mota-Engil

  • ECO News
  • 18 December 2019

Bloomberg claims that the Chinese state-owned company CCCC will be in initial negotiations to buy a minority stake in the construction. António Mota assures that he has not received any contact.

Chinese state-owned company China Communications Construction Co (CCCC) is considering the acquisition of a minority stake in Mota-Engil. The CCCC will have started talks with advisors and will be interested in 30% of the construction company’s capital. At market prices, the position is valued at around 130 million euros.

According to Bloomberg, the negotiations are still in their initial stages. The objective of the CCCC with the purchase of part of Mota-Engil (which is present in 28 countries) will be to strengthen the international presence.

Bloomberg reports that it is still open whether the Chinese company will come forward with a formal offer so that other interested parties may still emerge. It is not known from whom the CCCC intends to acquire the position.

Mota-Engil is 64.68% owned by the Mota-Engil family, and chairman António Mota told Bloomberg that the Chinese state company had not contacted them yet. There are two shareholders with qualified holdings – Mutima Capital with 3.18% and Norges Banks with 2.65% -, while the remaining 35% is dispersed on the stock exchange.