Portugal’s Soares da Costa acquires Energia Propria company

1 November 2010

Lisbon, Portugal, 1 Nov – Portugal’s Soares da Costa has reached agreement to purchase the company Energia Propria, which owns Self Energy, for 6.5 million euros, an amount subject to future adjustment depending on the company’s performance.

The agreement signed with the shareholders of Self Energy, among them Fomentinvest, involves the purchase by Soares da Costa of a 57.26 percent stake in the capital of Energia Propria SGPS.

Self Energy has developed its activity in the market for energy efficiency and the development of renewable energy products and currently operates in Portugal, Spain, the United Kingdom and Mozambique.

“This transaction (…) implies an investment of nearly 6.5 million euros, which may also be subject to some adjustment depending on the company’s future performance,” reads the note released by Soares da Costa.

The company indicated that the 42.74 percent of the capital not controlled by Soares da Costa would remain in the hands of various funds and the promoters of Energia Propria. (macauhub)