Swiss fund buys 15.41% of Alves Bandeira Group

The Swiss fund European Energy and Infrastructure Invest (EEII) has acquired a 15.41% share of fuel retail company Grupo Alves Bandeira (GAB).

The value of the acquisition completed at the end of June has not been divulged.

The company specialises in retail fuel (it has a network of petrol and diesel stations), petroleum based lubricants, vehicle batteries, chemicals and tyres.

EEII plans to acquire the total capital of the Portuguese group, an operation that is being negotiated with the various shareholders. According to the business daily Negócios, the company has been valued at around 180 million.

The chairman and CEO of EEII, Alexandre Uldry has confirmed that the GAB shareholders have been contracted with an offer.

The major shareholders are Monjardino Consultaria (15.41%), Rmband (36.39%), Batista e Bandeira (17.62%), Galcenso (7.7%) and the Grupo Alves Bandeira (4.97%).

The company’s website states that the group has an annual turnover of €700 million, 15,000 clients and 900 staff.