According to the chairman of the Board of Directors of ENSA, Carlos Duarte, who was speaking at the presentation of the insurer's results in 2020, in the coming weeks a dispatch from the Ministry of Finance to launch the tender and define the percentage to be sold.
"The work is very advanced, we have financial and legal advisors, IGAPE, there is a vast team, very competent, managing the process and I think our goal is to privatize the company by the end of the year and everything indicates that everything is run well, "he said.
The privatization process of ENSA started in 2019 with the privatization basic law of 14 May 2019, and in August 2019 the PROPRIV privatization program for the period 2020-2022 was launched, which embodied Presidential Decree 250/19, of 8 August, with the privatization method being defined with Presidential Order 81/20, of 5 June.
The process has two phases, the first being the identification of a strategic partner for the privatization of ENSA and the second the sale of the company's shares.
In March of this year, ENSA was returned to the direct ownership of the State, previously held by the ENSA group.
According to the administrator, Matilde Guebe, there is work that has been done by several 'players' and stakeholders in the process, namely ENSA, IGAPE, an independent financial advisor and a legal advisor, the former having the competence to create a model with the value of the insurer's assets and the second to guarantee the legality of this entire process.
"The process is ongoing and almost completed, preparing the tender documents for this first phase of privatization. This advisory service, which is provided by investment banks, is in the fund to guarantee the value of this asset", stressed Matilde Guebe.
