Sonae Capital SGPS SA informs about the sale of Choice Car - SGPS, SA

 


 

 

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

 

NNOUNCEMENT OF MATERIAL EVENT

Sonae Capital, SGPS, SA (Sonae Capital) announces that, on this date, its affiliated company SC, SGPS, SA (SC) agreed with Salvador Caetano Auto, SGPS, SA (Salvador Caetano) the terms for the definitive sale, of the shares representing fifty per cent of the share capital of Choice Car – SGPS, S.A. (Company), which holds interests in the auto sector, for a total price of 12.5 million euro.

Based on data reported as at 31 December 2007, the transaction will have an estimated impact of circa 8 million euro in the 2008 consolidated results of Sonae Capital.

In 3 years time, the price may be adjusted (positively or negatively) by a maximum of 2 million euro, conditional to the Company’s performance criteria.

This transaction is part of the revision of the business portfolio of Sonae Capital and all the necessary contractual conditions have been agreed to ensure its exit from the auto sector.

 

Maia, 1 April 2008

The Representative for Capital Market Relations