Press Releases

José de Mello and Têxtil Manuel Gonçalves launch Take-over Bid for EFACEC

27/09/05

The José de Mello and Têxtil Manuel Gonçalves groups, which together have a 50.8% stake in EFACEC, today announced the launch of a take-over bid for the shares representing the outstanding share capital at a price of €3.15 per share, a premium of about 30% above the average weighted price over the past six month.

The bid has been launched though Tecnoholding, SGPS, SA, a company set up for the purpose held in equal parts by the José de Mello and Têxtil Manuel Gonçalves groups, the operation having been underwritten by Caixa Geral de Depósitos.

The decision to launch this bid resulted from the fact that the two major shareholders share a common vision of EFACEC and believe in the company’s growth and development potential.

To allow full advantage to be taken of the company’s growth potential and to increase its internationalisation, the José de Mello and Têxtil Manuel Gonçalves groups consider that EFACEC and its shareholders will have to accelerate their investment effort.

The José de Mello and Têxtil Manuel Gonçalves groups consider that through this operation and by strengthening EFACEC’s leading role in the national and international energy, transport and services markets they are contributing to the development of the Portuguese economy.