Efanor now EU joint stock company

 In Companies, News

Efanor Investimentos SGPS, a holding controlled by the Azevedo family which is the largest shareholder in the Sonae Group, is to become a European joint stock company.

The move was initiated in February by the board with the operation likely to be completed at the end of the first half of the year.
In addition to holding relevant assets in Portugal, the company run by Maria Margarida Azevedo (widow of Belmiro Azevedo), their sons Paulo and Cláudia Azevedo, Ângelo Paupério and Carlos Moreira da Silva, also has businesses and investments in other European Union Countries.
The family say that the status of European joint stock company was set up “precisely for these types of businesses and investments in other European countries, with the aim of providing a common regulatory framework”.
“The goal of this change is to give Efanor a supranational EU legal status that will bring regulatory uniformity in the various EU member states, thereby facilitating the development of the company’s activities”, states an official source.