Notified on 12 October 2006, this merger consists of the creation of a joint undertaking between Inter-Risco - Sociedade de Capital de Risco SA (henceforth referred to as "Inter-Risco") and Serlima Gest SGPS, SA (and five members of the Umbelino family, who at present fully control the Serlima Group), the joint undertaking that will essentially act as the Serlima Group holding company.