Parpública to sell Estoril racing track

 In Infrastructure, News, Sports and Leisure

The Portuguese State umbrella company that controls public sector companies is to put Estoril’s autodrome up for sale says online news source ECO.

Parpública has wanted to sell the Estoril track for over a year and will now launch an international competitive tender to sell the sports and real estate asset as soon as a new government takes office from March 10, after the elections.
The Estoril Autodrome came into public hands in 1997. “We are drawing up the necessary documents for the sale of Circuito do Estoril S.A, the company that runs the autodrome, and which has been held by Parpública since 2002, but it is “premature to release details”, states an official source within Parpública.
ECO found out that granting a concession to run and profit from the autodrome had been on the table, but that Parpública had opted instead to sell the company that manages the property officially called the Autódromo Fernanda Pires da Silva after the business woman who financed it.
Cascais Council, which is headed by Mayor Carlos Carreiras, says that there are three groups interested in buying the race track, two of which are Portuguese and a consortium of Portuguese and overseas companies. The asset is said to be valued at around €10 million.