Competition authority approves stake of Angolan businesswoman Isabel dos Santos in Efacec

11 August 2015

The Portuguese Competition Authority has approved a stake acquired by Angolan businesswoman Isabel dos Santos in the capital of Efacec Power Solutions, a holding company of the Group, which is focused on the energy sector, the authority said.

In a statement issued Monday in Lisbon, the Competition Authority said it had made “a decision of non-opposition” to the acquisition of joint control of Efacec considering that “it is not likely to cause significant barriers to effective competition in the markets analysed.”

Following this deal, Isabel dos Santos will hold a 65 percent stake in the company, leaving the former owners, the groups José de Mello and Têxtil Manuel Gonçalves, with a stake of 35 percent, split equally between them.

The deal, costing 200 million euros, was carried out through SGPS Winterfell, created specifically for this purpose. The new company has Empresa Nacional de Distribuição de Electricidade, responsible for power distribution in Angola, as a minority shareholder. (macauhub/AO/PT)