Winterfell finalises purchase of Portuguese company Efacec Power Solutions

26 October 2015

Winterfell, owned by Angolan businesswoman Isabel dos Santos, since Friday has owned a majority stake (66.1 percent) of Portuguese company Efacec Power Solutions (EPS) belonging to the José de Mello and Têxtil Manuel Gonçalves groups.

A statement issued by the Portuguese companies said the sale “is a solution that favours the future of Efacec and maximises its value, strengthening the continuity of business development and the preservation of a skills centre in the country.”

Winterfell said, meanwhile, that the majority ownership implies a “strategic and long-term investment vision that allows financial strengthening of Efacec, increasing its investment capacity and boosting Efacec as a centre of expertise with great capacity for internationalisation.”

Efacec Power Solutions brings together the core activities of the Efacec Group, which include energy, with transformers, switchgear, automation and electric mobility, and engineering, recording a turnover of about 500 million euros a year. It has around 2,500 employees and operations in 80 countries.

The José de Mello and Têxtil Manuel Gonçalves groups will remain minority shareholders of EPS through the MGI Capital company. (macauhub/AO/PT)