Angolan businessman becomes chairman of Portuguese construction company Soares da Costa Construção

13 February 2014

Angolan businessman António Mosquito has become the chairman of Portuguese construction company Soares da Costa Construção, SGPS after taking a majority stake, the group said Wednesday in a statement.

The statement filed with Portuguese market regulator Comissão do Mercado de Valores Mobiliários (CMVM) after the general meeting of Soares da Costa Construção, SGPS, which was previously 100 percent owned by the group of the same name, announced that 66.7 percent of the company was now owned by GAM Holdings and the remaining 33.3 percent was owned by the Soares da Costa group. The transaction was first announced last year.

The group’s capital was increased by 20.3 million euros to 90.3 million euros via a cash injection of 70 million euros, “entirely subscribed and provided by Luxembourgish company GAM Holdings.”

On 26 November 2013 the Soares da Costa group and Mosquito announced that had reached an agreement for Mosquito to buy 66.7 percent of the construction company, which was confirmed at the general meeting in September. (macauhub)