Six binding bids to buy Efacec received from local, foreign entities
In December, Parpública said that it had received expressions of interest from eight national and foreign candidates for the reprivatisation of Efacec.
Parpública, the state investment company that holds a majority of shares in engineeering company Efacec, has received six binding proposals from national and foreign entities for its reprivatisation, and aims to review them over the next 10 days, it announced on Monday.
“Within the scope of the reprivatisation process of 71.73% of the share capital of Efacec Power Solutions, SGPS, S.A., Parpública – Participações Públicas (SGPS), S.A. informs the market and the general public that it received, within the deadline established, six binding proposals from three national entities and three foreign entities,” the company said in a statement, without revealing further details.
The next 10 days will see the assessment of these proposals.
On 9 February, Portugal’s minister for the economy and maritime affairs, António Costa Silva, said that he was convinced that the capital injections that the Portuguese state would still have to make into Efacec would be “very limited” if the company was privatised within a month or two.
“I believe that if we complete the process within a month or two, the injections that we have to make into the company, especially in terms of treasury, will be very limited,” Costa Silva told parliament when questioned by the opposition Social Democratic Party (PSD) about the Efacec sale process.
Costa Silva also said that, at this point, the costs that the State has already borne with Efacec amount to around €165 million, taking into account the capital injections already made “and the guarantees that were given.”
He stressed that the government is “working to ensure” that the sale goes ahead, stressing that “the state is not a good shareholder” for the company.
In December, Parpública said that it had received expressions of interest from eight national and foreign candidates for the reprivatisation of Efacec.
The government announced last 28 October that the sale of Efacec to the DST group, which had previously been planned, was not concluded due to a failure to meet “all the necessary conditions” for the sale agreement.
