The Associação Mutualista Montepio Geral (AMMG) decided to sell its 27% stake in Sagies to healthcare group CUF for around €1 million.
The Associação Mutualista Montepio Geral (AMMG) will sell its 27% stake in Sagies to healthcare group CUF for over €1 million, according to information gathered by ECO.
With 30 years in the occupational safety and health sectors, Sagies is already part of CUF, which owns 70.5% of the company and is now preparing to buy the mutualist’s stake for €1.05 million. CUF will now control 97.5% of Sagies, while the other 2.5% are in the hands of the Red Cross.
The operation will still be subject to consideration at the mutualist’s assembly of representatives, which will meet extraordinarily on the 27th. Questioned by ECO about this transaction, the mutual company declined to comment.