Mutares signs Efacec contract

 In Asset and Fund Management, Asset Management, Companies, News

The German company Mutares has signed an agreement with the government to purchase the electrical and transport systems company Efacec.

However, the asset management company says the deal will not be concluded until the third quarter of the year and the details of the contract still remain a mystery.
“We are very pleased to announce our second acquisition in 2023. I am sure that with our operational experience and the trends currently underway in the energy sector, we can continue to develop the company’s potential and put it on the path to sustainable development”, says Johannes Laumann who heads the fund’s investment department.
The German fund simply stated that Efacec is “an excellent option” for its portfolio and will benefit from a relevant platform that will help channel improvements in value, enabling the company to recover its position of leadership in the market and return to a trajectory of growth.
At the beginning of June, the Government announced the sale of Efacec to the Mutares fund without revealing any details of the restructuring plan, namely the losses assumed by the bank and bond holders or the State itself, or even the amount Mutares is paying for Efacec which until now has been a public company with the government having responsibility to make this information public which it says it will do “at the right time.”