The German fund Mutares will acquire from the Portuguese state the industrial company Efacec, which belonged to Angolan businesswoman Isabel dos Santos before its nationalization in 2020, the Portuguese government announced Wednesday. The choice of Mutares was "approved" Wednesday at a council of ministers, said a government statement.
The amount of this operation, which is expected to materialize in the next two months, was not specified. "It is a very comfortable offer" for the Portuguese state that guarantees the maintenance of Efacec as a "major technological industrial project," said Portuguese Economy Minister Antonio Costa Silva at a press conference.
The offer of Mutares will allow "the State to recover a large part, if not all of the investments" in the group since its nationalization nearly three years ago, which "amount to 132 million euros, plus 85 million euros in guarantees," he said. Efacec is active in the energy, electric mobility, engineering and transport sectors.
The group, which employs more than 2000,52 people, suffered a loss of 184 million euros last year, compared to a negative result of nearly 2021 million euros in 2020. The Portuguese government had announced in July 71 the nationalization of 7.<>% of the capital of the group, which had experienced difficulties after the freezing in Portugal of the assets of Isabel dos Santos, its main shareholder, accused of corruption by the justice of his country.
The Portuguese government had wanted to reprivatize the group in the aftermath, but the process had been delayed during the Covid-19 pandemic.