The Government relaunched a new tender for the reprivatization of Efacec, and the resolution of the Council of Ministers was published in the Diário da República. And he admits that Efacec may have to increase its capital.
“The reprivatization is carried out through the sale of shares, by Parpública, eventually accompanied by one or more capital increase operations”, the diploma reads, and it is added that this capital increase may have to be carried out “by the bidder selected for the acquisition of shares.”
There is no stipulated term in the diploma, although Parpública —which will be the entity that will carry out the operation— is determined to receive the proposals by electronic means “within the term established by this [Parpública] come to arrange for that purpose”.
On the other hand, it advances that it is intended to advance, before the sale (but that it may be concomitant), to a restructuring plan for Efacec. The Government determined that Parpública “propose to the Government, the restructuring measures, including possible solutions, duly evaluated, and, where appropriate, the respective legal instruments, which are necessary to carry out the sale, even if concurrent to it, in order to enhance the value of the company, optimizing the financial effort of the State, and that may result in adaptations to the structure of the final transaction to be carried out ”, reads the published diploma. Parpública is also authorized to “ensure the maintenance of the company’s activity, that is, in terms of treasury supportto enable the conditions that allow the completion of the reprivatization operation, providing it with the respective financial means”.
Parpública already made a loan of 50 million in the first half of the year.
This diploma also safeguards against the possibility that the sale fails again, anticipating that in the event that the sale does not proceed, the bidders will not be entitled to compensation. “In the event of suspension or termination of the reprivatization process in accordance with the provisions of the previous number, potential bidders will not be entitled, for any of these facts, to any indemnity or compensation, whatever their nature,” reads the document. diploma. This is to the extent thatUntil the physical settlement of the sale to be carried out in the direct sale, the Council of Ministers may suspend or cancel the reprivatization process, provided that reasons of public interest justify it.???????? This diploma was also intended to definitively end the sale that was initially intended for the DST.
Government officially assumes that the privatization of Efacec failed. DST wishes Efacec “the best”
The reprivatization will be by direct sale —to nationals or foreigners— in one or two stages.
in update
Source: Observadora
