By Andrea Hargraves 
The Visabeira/Sodecia national consortium and three “private equity” – Portuguese Oxy Capital, Germany’s Mutares and North American Oaktree – made their best final bid (Bafo) for the acquisition of 71.73% of the company once owned by Angolan businesswoman Isabel dos Santos.
Parpública, the state-owned “holding” where Efacec remains the controlling position, which has been nationalized for nearly two years, announced this Tuesday, April 11, that it had received four binding and favorable offers to buy the company that was owned by the businesswoman. Angolan Isabel dos Santos.
“Within the scope of the reactivation of 71.73% of the share capital of Efacec Power Solutions, SGPS, SA, Parpública – Participações Públicas (SGPS), SA, informs the market and the general public that, within the specified period, it has received binding proposals optimized by Mutares Oaktree, Oxy Capital and Grupo Visabeira-Sodecia,” reads the sent statement.
“Verification of the regularity and analysis of the aforementioned proposals will follow in the conditions stipulated in the specifications attached to Cabinet Decision No. 107-A / 2022, dated November 21,” concludes Barbébica.
It must be remembered that the deadline for candidates to submit their best final bids (Bafo), initially set at 5 pm on Monday, the day Mota-Engil was known to have withdrawn, was extended by Parpública for another 24 hours.
With Efacec’s reactivation in “low heat,” the company’s coffers are deteriorating at an accelerating pace, with the state funneling Leça do Balio more than €10m a month — €14m, Journal Economico recently reported.
Moreover, the government itself has already admitted that the sale price of Efacec is unlikely to offset the state’s injections, which already total more than 200 million euros.
“It is unlikely that the totality of this value will be reflected in the selling price,” Economy Minister Antonio Costa Silva said recently.