State will do “everything” to save Efacec. But it is essential to remove Isabel dos Santos

  • ECO News
  • 23 June 2020

Assistant Secretary of State for Economy says this process is "very complex". And it's taking longer than desirable.

The Assistant Secretary of State for the Economy guarantees that “all necessary measures will be taken to protect Efacec,” but recalls that one must keep in mind the context in which the company finds itself. He, therefore, reiterates that the removal of Isabel dos Santos as majority shareholder is necessary for this process.

“We have done everything possible”, particularly “because it is essential for the sanity of this process, removing the majority shareholder,” pointed out João Neves, in a hearing in the Committee on Budget and Finance, on the Supplementary Budget.

João Neves, who was answering a question posed by Jorge Costa, a Member of the Left Bloc, stressed that it is not “completely indifferent” to grant public, state guarantees in these circumstances, where majority ownership is still in the hands of a “personality” like Isabel dos Santos.

The Secretary of State also admitted that this process is “very complex”, and is taking longer than desirable, leaving, even so, the guarantee that they will do “everything necessary to preserve Efacec”. Efacec will have already received “about 30 expressions of interest” in buying the company’s participation, according to the CEO.