Mota-Engil completed sale of Tertir group by at least 30 million euros – publico

                 
                 

 
 

After last February 5th have received “green” light for the Competition Authority, the Mota-Engil group announced Friday the market completion of the sale of Tertir group to Turkish of Yldirim for 245 million.

the value now advertised reflects a decrease of 30 million euros compared to that which was released in September, when the deal was made public. And, according to the statement now sent to the Portuguese Securities Market Commission, this difference in values ​​is explained by the fact that we still have not completed the process of renegotiation of the Concession of Leixões Container Terminal (LCT) and is included in the perimeter the sale.

As recalled by the group led by Gonçalo Moura Martins, TCL “concerned the realization of a significant investment by the concessionaire, against the economic and financial balance of the concession in compliance with the law and the contract “, and that renegotiation is not complete.

this investment, made only a renegotiation of the granting of this TCL, valued the company now acquired by Turks, explained to PUBLIC source of construction.

at issue was the expansion of the terminal that was initially budgeted at 17 million euros and should be supported by the port administration. Later, and to incorporate the guidelines of the Strategic Plan of Transport and Infrastructure (PETI), it came to be attributed to the dealer, and the amount of investments exceeded 45 million.

The renegotiations were never completed, and then the objectives imposed by the transport secretary of state, Sérgio Monteiro, either. The new Minister of the Sea, Ana Paula Vitorino, requested information from the port authorities before all the processes were completed.

As the PUBLIC advanced at the time, the motto for the sale of the business of ports was given by Novo Banco, who “inherited” the participation of 36.87% held by BES. The bank led by Stock da Cunha also announced yesterday the sale of this stake and expects the transaction is closed “until the year’s end.” The New Bank stressed that the sale will have “a positive impact on net income, solvency ratio and liquidity” of the institution.

At the time, Mota-Engil said that this sale happened “following the strategic decision to exit the port segment in line with the recent strengthening the group made in the waste sector “(and the company won the privatization of the General Development company).

The sale of “mature businesses” in the definition of the construction group, included participation in Indáqua – Industry and Water Management, the Miya Group for 60 million euros, completed a few days ago <. / p>

the company also has ongoing sale of all or part of the 60% stake it holds in Ascendi, a combined operation with the New Bank, which holds the remaining 40%, and is expected to meet an outcome briefly. With Rosa Soares