Portuguese Crisal“s main shareholder, the Raposo de Magalhaes family, has agreed to sell 15% of its 24% stake to Portuguese glass company Cofina. It is believed that Cofina has paid over Esc 3,000 mi…
Portuguese Crisal“s main shareholder, the Raposo de Magalhaes family, has agreed to sell 15% of its 24% stake to Portuguese glass company Cofina. It is believed that Cofina has paid over Esc 3,000 million for the 15% stake. On 11 March some 118,300 shares were transferred, equal to 4.77% of Crisal, at Esc 2,700 a share, and a premium was also paid. The Raposo de Magalhaes family will retain 10% of Crisal, which will allow it to continue to take part in the management of the company. The Cofina group acquired its first 4% stake in Crisal in 1994. It increased its stake over the last year. At the moment Cofina has about 10% of Crisal but the group“s total holding is about 24%, and it is expected that Cofina will change Crisal“s strategy.