Sonae Capital, SGPS, SA informs about sale of subsidiary

 

 

SONAE CAPITAL SGPS, SA
Lugar do Espido, Via Norte, Maia
Share Capital: 250,000,000 Euros
Maia Commercial Registry and Fiscal Number 508 276 756
Sociedade aberta

 

ANNOUNCEMENT OF MATERIAL EVENT

Sonae Capital, SGPS, S.A. (Sonae Capital) informs that it has successfully concluded the negotiations for the completion of the agreement for the sale of ELMO, SGPS, S.A. (Elmo), signed on 27 June 2007, and referred to in the announcements dated 5 May and 11 June 2008. As a result, the financial investment and loans to Elmo were sold for 2 euro to companies held by Mr. Jaime Teixeira, and Sonae Capital no longer holds investments in or loans to Elmo.

We estimate the impact of the sale of Elmo, based on available accounting information as at 30 September 2009, to be immaterial, since losses arising from this sale had already been recorded, as impairment losses on related assets, in 2008 at the time of filing for the opening of rehabilitation proceedings of Plysorol, SAS, the sole asset of Elmo.


Maia, 30 December 2009


The Representative for Capital Market Relations