Portugal’s Lena group receives 50 million euros from sale of assets in Portugal and Angola

5 January 2011

Lisbon, Portugal, 5 Jan – Portuguese group Lena has received 50 million euros from the sale of a group of companies in Portugal and a real estate asset in Luanda. Angola, the group said in a statement issued Tuesday.

“In Portugal we sold a group of companies associated to Petroibérica, which had been part of the group since it was set up in 1998, as it was considered that its market – sale and distribution of oil products – is very specific and had scale requirements,” the chairman of the group, Joaquim Paulo Conceição said in the statement.

In Angola, the sale of a real estate asset in Luanda took place as part of restructuring of the company’s assets in that market, and Conceição said, “maintaining Angola as a target market, the sale we made will allow for more sustainable development of operations.” (macauhub)