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Teixeira Duarte sells 90% of the management company of Hospital de Cascais

April 12, 2018

Teixeira Duarte "entered into a contract for the sale of 90% of its subsidiary TDHOSP - Hospital Management, with an equity impact of approximately 19 million euros, allowing a reduction of the group's liabilities by 75 million euros", announced in a statement to the CMVM the construction company led by Pedro Teixeira Duarte.

According to the document, Teixeira Duarte - Engenharia e Construções (TD-EC), a company 100% owned by Teixeira Duarte, celebrated on April 9 "a contract with subsidiaries of an investment fund managed by the management company 3i Investments plc for the sale of 90% of the share capital of TDHOSP".

TDHOSP is a 100% owned company by TD-EC and holds the concession for the management of the Cascais Hospital building.

In addition to obtaining the consent of TDHOSP itself, the transmission has as a condition precedent the authorization of the Portuguese State, as the granting entity, and of the entities financing the concession, which is estimated to occur until July 30.

The overall price set for the transaction, including the transfer of shares and existing credit rights to TDHOSP, is approximately EUR 19.4 million.

F9 Consulting acted as financial advisor to Teixeira Duarte in the sale process.

Teixeira Duarte sells 90% of the management company of Hospital de Cascais