The Mota-Engil today completed the sale to the Yildirim Group of port business and logistics, for EUR 245 million, 30 million less than expected, by not having completed the renegotiation of the Concession of Leixões Container Terminal.
Asked about the deal have been below the expected amount, the executive chairman of the Chinese bank Haitong, Jose Maria Ricciardi, considered that “an operation is balanced when it is good for both parties, which was the case.”
“the operations are made at prices that you choose, but then the seller wants more, the buyer wants less, and there is a price,” said José Maria Ricciardi Lusa.
the former CEO of Banco Espirito Santo Investimento (BESI) pointed out that “a highly controversial point about investing in Portugal, this is an important step:. there remain important investors to invest in Portugal and this is absolutely essential “.
Jose Maria Ricciardi believes that” the Portuguese economy needs new investment “and should enhance international investors, as the Turkish group Yildirim, because the Portuguese investment” has its limitations “.
“Hopefully ever is less, and there is more and more Portuguese to invest, but while this is not possible it is essential that other investment, this alien case come to Portugal and this is an example that investors continue to believe in Portugal, “he said.
in a statement sent to the Portuguese Securities Market Commission (CMVM), Mota-Engil states that” after obtaining no objection from the Competition authority and authorizations for all other entities that, under the legal and contractual terms, had to rule on the transaction, today completed the sale to the Yildirim Group of its port business and logistics “.
However, “given that it has not been completed to date, the process of renegotiation of the Concession of Leixões Container Terminal, included in the perimeter of the sale, [...] the final amount of buying and selling, as received, it was 245 million euros, “reads the statement.
the value statement today is below that which was disclosed in the transaction announcement height (EUR 275 million), which Mota-Engil justifies the fact that the process of renegotiating the concession of Leixões Container Terminal have “concerns 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.”
on September 29, Mota-Engil announced the sale to the Turkish group Yildirim of port concessions in Portugal, Spain and Peru and logistics company.
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