Business groups from China and Russia interested in buying Portuguese shipyard company Estaleiros Navais de Viana do Castelo

20 March 2012

Business groups from China and Russia are interested in the reprivatisation process of Portuguese shipyard company Estaleiros Navais de Viana do Castelo (ENVC), which the Portuguese government is putting up for sale in the next 45 days, according to the Portuguese press.

A source from the Defence Ministry told Portuguese news agency Lusa that there were six groups that were potentially interested in buying ENVC including Portuguese investors and Chinese and Russian groups in the naval industry.

“There will now be a period of around a month and a half for the Finance Ministry to prepare the tender document for this reprivatisation, and it is estimated that two months later a decision will be made on who is awarded the tender,” the source said.

The Portuguese government has said it intends for the sale of the company, which was nationalised 37 years ago at the request of its workers and the company’s board, to be finished within four months.

Estaleiros Navais de Viana do Castelo currently has debts of 270 million euros. (macauhub)

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