CONSULMAR GROUP STRENGTHENS POSITION IN THE NORMA-AÇORES AND BECOMES A MAJORITY SHAREHOLDER
Following the reform and restructuring of the Public Enterprise Sector in the Autonomous Region of the Azores, initiated in 2018 by the Azorean Regional Government, the CONSULMAR Group decided to reinforce its commitment and business involvement with the ARA.
Thus, in February 2020, it signed the purchase and sale agreement for the shares corresponding to the holdings previously held by EDA – Electricidade dos Açores, SA, Seguradoras Unidas, SA and the majority of individual shareholders, acquiring 98.6875% of the Norma-Açores share capital, making the CONSULMAR Group the majority shareholder.
The CONSULMAR Group, through its holding company CONSULMAR – SGPS, S.A., has, since 1992, already held the second-largest stake in the share capital of NORMAAÇORES (25.5%), in whose management it had been intensely involved for a long time.
This acquisition is part of the network growth strategy, with the expansion of the sectors in which it operates and the business areas diversification, which the CONSULMAR Group has been implementing throughout its long existence, which completed a half-century of activity last month January 2020.
The CONSULMAR Group currently holds stakes in nine companies located in Portugal, Angola and Mozambique, and has references in more than twenty countries.
By taking the majority shareholding position in NORMAAÇORES, the CONSULMAR Group remains fully committed with the Company development in the service of creating value for its Clients, maintaining its independence, professionalism, rigour, ethics and integrity, reinforcing competence and credibility that it has gained since its foundation in 1984.