In a statement, IGAPE states that the sale of shares representing ENSA's share capital will be carried out through a limited tender by prior qualification, as established in the Minister of Finance's dispatch no. 1867/21, of 12 May, which also approves the Program of the procedure and the Specifications.
In this process, the note said, IGAPE has the support of Banco Millennium Atlântico, in partnership with Millennium Investiment Banking, the investment banking area of Banco Comercial Português, as financial advisors for the execution of the first phase of the privatization process, with which he has been working since the preliminary stage of the process.
ENSA, the country's leading insurance company, with a market share of 37 percent in 2020, has been in the market for 43 years.
The insurance company offers a complete range of products and services in the life, non-life and pension fund management segments, aimed at private, corporate and institutional customers, with particular emphasis on its important presence with large public and private companies .
In May, the chairman of the Board of Directors of ENSA, Carlos Duarte, said that the insurer's privatization process should be completed by the end of this year.
"The work is very advanced, we have financial and legal advisors, IGAPE, there is a vast, very competent team 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 in progress. go well," said Carlos Duarte at the time.
ENSA's privatization process began in 2019 with the basic privatization law of 14 May 2019, and in August 2019 the privatization program for the period 2020-2022, called PROPRIV, was launched. to presidential decree 250/19, of August, the privatization modality having been defined by presidential order 81/20, of 5 June.
