Friday, May 22, 2015

Sonae purchase position of RAR and is the sole shareholder of … – Jornal de Negócios – Portugal

Sonae bought the RAR’s position in GeoStar and is the sole shareholder of the company. The RAR announced it would proceed with the “reorganization of assets” in order to “concentrate its investments in strategic companies”.

Sonae bought the stake of RAR (one company that operates in several segments, particularly in the food area, in the area of ​​real estate and services) in GeoStar (a travel agency company that has a turnover of more than annual sales of EUR 150 million) and is the sole shareholder.

“Under the existing shareholder agreement, Sonae corresponded to the wishes of the RAR and acquired its shareholding, concentrating in a single shareholder the entire share capital of the company,” says the Sonae statement sent to newsrooms.

The document also reveals that “Sonae Investment Management will continue to study new ways of development for the company and believes that GeoStar is uniquely placed to exploit sector consolidation opportunities.”

This Thursday, May 21, the RAR group announced a “reorganization of assets” made in order to “focus its investments in the most strategic companies”, writes the Lusa agency quoted the statement from the company. The RAR also revealed the acquisition of Colep.

“The Brazilian operation of Colep currently involves assets of around 300 million reais (about EUR 100 million). Although Colep already would retain a majority shareholding (51%), by strengthening now realized, will be the only responsible for managing the operation in this market, “the statement said.

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