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Aga Khan, Interested in Taguspark, Looks to Acquire CGD’s 10% Holding
16 July 2018
The leader of the Ismaili community how shown interest in the technological park over the past several months. CGD was the first shareholder to demonstrate an interest in selling its holding in the venture.
The Aga Kahn network expressed its interest in taking a position in Taguspark, looking to acquire Caixa Geral de Depósitos’ (CGD) 10% holding. The European Commission required that the state-owned divest itself of the asset. The deal will have to be approved by the Portuguese Minister of Finance, Mário Centeno.
The leader of the Ismaili community has expressed interest in the technology over the last few months, as reported by the Jornal de Negócios on Monday. CGD is the first shareholder to demonstrate an interest in parting with its stake.
The bank, which is helmed by Paulo Macedo, chose to sell its stake in Taguspark, opening a public tender. The sale has been delayed, however, as the deal was expected to have been finalised last year. The bank’s shareholding is valued at €2.17 million, not including the associated impairments.
The transaction may, however, go for a higher price, as the valuation is already outdated and does not reflect the asset’s market value. Institutions with similar positions, such as BPI and BCP, also have their holdings priced similarly. Asked by the newspaper, the state-owned bank declined to comment, and an official source of the Ismaili community stated that “at the moment, no decision has been taken regarding any such acquisitions.”
Aga Khan was in Portugal for celebrations of the anniversary of his diamond jubilee, his 60 years as the imam of the Shia Muslim Ismaili, saying that the country was not only “the ideal place,” as “a country of opportunity. ” At the same visit, it was announced that the community’s world headquarters would move to Lisbon next year.
Original Story: Economia Online / Sapo
Translation: Richard Turner