Brief: Sonae Says That Creation Of JV With Bankinter Consumer Finance Has Been Completed

Sonae SGPS SA

30/11/2023 17:51

Nov 30 (Reuters) - Sonae SGPS SA  YSO.LS :
    * INFORMS THAT CREATION OF JOINT VENTURE BETWEEN SONAE AND
BANKINTER CONSUMER FINANCE HAS BEEN COMPLETED AND BANKINTER
CONSUMER FINANCE HAS BECOME A SHAREHOLDER OF 50% OF UNIVERSO,
IME
    * IT RECEIVED AS CONSIDERATION A TOTAL OF AROUND €42 MILLION
FOR
SALE OF A 50% STAKE IN UNIVERSO
    * THIS OPERATION GENERATED A CAPITAL GAIN FOR SONAE OF
AROUND €12
MILLION
    * HAS DECONSOLIDATED ITS 100% STAKE IN UNIVERSO, WITH
REMAINING
50% STAKE BEING NOW CONSOLIDATED THROUGH EQUITY METHOD
    * NEW JV WILL BE CO-CONTROLLED BY SONAE AND BANKINTER
CONSUMER
FINANCE WITH ALBERTO RAMOS, BANKINTER’S PORTUGAL COUNTRY
MANAGER, AS CHAIR OF BOARD OF DIRECTORS, AND LUIS REIS FROM
SONAE, AS CEO

Source text: https://tinyurl.com/3cjpmfz8
Further company coverage:  YSO.LS 

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