Portuguese firm Sonae Capital, which is being spun off from the Sonae group, said it has agreed to sell its construction unit Contacto - Sociedade de Construcoes to Portugal's Grupo Soares da Costa for about EUR 81 mln.
Portuguese firm Sonae Capital, which is being spun off from the Sonae group, said it has agreed to sell its construction unit Contacto - Sociedade de Construcoes to Portugal's Grupo Soares da Costa for about EUR 81 mln.
In a statement, the company said that the transaction is part of a general restructuring of its business portfolio to exclude construction interests.
Sonae Capital said it has received an initial payment of EUR 17.5 mln, and the final price of the deal will depend on Contacto's performance. The sale is expected to have boost 2008 results by about EUR 47 mln.
