PT
Autoridade da Concorrência

Case details

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Merger control
Case reference
CCENT/2005/24 - INVESCAIMA, SGPS, S.A./PORTUCEL TEJO, S.A.
Acquiring
Invescaima - Investimentos e Participações, SGPS, SA.
Description
a member of the COFINA SGPS SA group, whose corporate object is the management of shareholdings in other enterprises operating in the forestry management sector and in the production of pulp for papermaking;
Acquired
Portucel Tejo, S.A
Description
operates in the forestry management sector and in the production of pulp for papermaking and, via its subsidiaries CKP - Companhia Produtora de Papel Kraftsack, S.A. and Sosapel - Sociedade Comercial de Sacos de Papel, Lda., also produces, manufactures and markets sack/bag paper (kraft sack paper).
Sector
  • Extractive and manufacturing Industries
Activity (NACE)
  • C17 - Manufacture of paper and paper products
Applicable legislation
Art. 9(1)(b) (Law 18)
Notification thresholds
Turnover
Type of merger
Horizontal
Cooperation with sector regulators
Status
Closed
Type of Investigation
Phase 1
AdC’s decision
Non-opposition
Case description
Notified on 01April 2005, this merger consists of the acquisition by INVESCAIMA - Investimentos e Participações, SGPS, SA of sole control of PORTUCEL TEJO, SA, under the first phase of its reprivatization. This involves the sale by open invitation to tender of an indivisible block of 7 125 000 shares representing 95% of PORTUCEL TEJO´s registered capital, in accordance with the tender document annexed to Decree-Law No. 9/2005 of 6 January. The latter legislation approved the reprivatization of one more of the enterprises created by means of a split-off from Portucel SGPS SA.
Timeline
2005-05-24
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