• Transaction / Assets
    50% of TDE - Empreendimentos Imobiliários
  • Seller
    Teixeira Duarte
  • Buyer
    China Construction Portugal
  • € MM

Teixeira Duarte Teams Up With Chinese Firm to Develop Project in Oeiras

25 July 2019 – Richard D. K. Turner

Teixeira Duarte sold 50% of one of its subsidiaries, TDE – Empreendimentos Imobiliários, to China Construction Portugal, for 31.1 million euros, the company revealed in a statement sent to the Securities Market Commission (CMVM).

The project is slated to include office, residential and commercial buildings in Oeiras on land owned by Teixeira Duarte. The sale is expected to have a net impact of approximately 22.2 million euros on Teixeira Duarte’s results.

Original Story: Economia Online – Rita Neto