Chinese companies interested in acquiring Portuguese waste company Empresa Geral de Fomento

23 May 2014

Portugal’s Parpública, the holding company for Portuguese State stake holdings, has received seven proposals to buy Empresa Geral de Fomento (EGF), specialised in solid urban waste collection and treatment, according to a statement issued in Lisbon Thursday.

In the statement Parpública said only that it had received seven non-binding proposals to buy EGF, which is a subsidiary of state water group Águas de Portugal, but did not name the bidders.

The government will analyse the proposals before June, when it will decide which of them will go on to the binding phase of the bidding process. Final proposals are due in July.

Amongst the companies interested in buying EGF, according to the Portuguese press, two are from China – Sound Global and the Beijing Enterprises Water Group.

On Thursday Brazilian companies Odebrecht Ambiental and Solví announced that they had set up a consortium called Portugal Ambiental to bid for the re-privatisation of EGF.

As well as this consortium Portuguese group Mota-Engil, the Egeo-Antin consortium and Spain’s Fomento de Construcciones y Contratas (FCC)have also shown interest in the privatisation. (macauhub/PT/BR/CN)