The sale of control of Efacec, of which Isabel dos Santos is the main shareholder, has already started and the company expects to have non-binding offers next month. However, within the engineering company, suffering from the effects of Luanda Leaks and covid-19, bank financing is awaiting to ensure its viability. In order for the banks to lend you, Efacec sent a request to the Government to grant a guarantee of € 50 million. But the way is not easy. At all.
According to information obtained by Expresso, Efacec intends to receive a € 50 million financing line from its three creditor banks: Caixa Geral de Depósitos, Banco Comercial Português and Novo Banco. However, banks will only be available to proceed with the loan if it is protected by a state guarantee, which the company wants to be granted under the special state guarantee regime created in March in response to the pandemic. Among the arguments for the public guarantee is the strategic importance and the weight of the electric company, which employs around 2500 professionals, for suppliers in the North of the country. And another idea: without it, the company could fall.
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