Investing.com - Mutares SE & Co. is exploring options for Portuguese engineering group Efacec, according to reporting from Bloomberg, citing people familiar with the matter. The German investment firm is working with advisers including JPMorgan Chase & Co. on the options, which could include an initial public offering in Lisbon or a sale, the people said.
The unit has attracted preliminary interest from potential buyers, one of the people said. No final decisions have been made, and there’s no certainty that a transaction will materialize, the people cautioned.
In May, a note from Cantor said Efacec could reach an enterprise value of €300 million ($348 million) to €420 million. The valuation could be higher in a competitive strategic auction, according to the note.
Mutares is a German investment firm that holds stakes in various industrial companies. Efacec is a Portuguese engineering group operating in the energy and transportation sectors.
JPMorgan Chase & Co. is serving as an adviser to Mutares on the potential transaction. The bank is assisting with evaluating strategic alternatives for the Portuguese unit.
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