Efanor already owns 92% of Sonae Indústria

  • ECO News
  • 26 May 2021

The holding exceeds 92% of Sonae Indústria's share capital. It already has sufficient voting rights to request the loss of its public company status.

Efanor continues to buy Sonae Indústria shares on the stock exchange. After a series of operations on the market, it announced that it now holds over 92% of the company’s share capital, opening the door to the delisting of Sonae Indústria.

In a statement sent to the Portuguese Securities Market Commission (CMVM), the holding company headed by Paulo Azevedo said that on May 24 it now held 92.26% of Sonae Indústria’s share capital.

By surpassing 90% of the capital and voting rights, Efanor is closer to the goal it had when it launched a takeover bid for Sonae Indústria a year ago: to delist the company from the stock exchange. At the time it missed its target, but now it may achieve it.

With these voting rights in hand, the holding company now has a sufficient percentage to call a shareholders’ meeting to request that the company lose its status as a public company.