Cuatrecasas instructed on €32m Portuguese defence deal

Cuatrecasas, Gonçalves Pereira has advised the Portuguese defence industry company Empordef, as well as a number of other shareholders, on the privatisation of military technology company Empresa de Investigação e Desenvolvimento de Electrónica, SA (EID).

The Cuatrecasas team was led by corporate partner João Mattamouros Resende.

The deal – which was valued at €32 million – involved the sale of 99.9 per cent of the share capital of EID. The shareholders selling the shares included Empordef, EFACEC Capital, IAPMEI – Instituto de Apoio às Pequenas e Médias Empresas e à Inovação, and Rohde & Schwarz.

EID tnow becomes part of the Cohort group. Cohort is a UK-based defence company.

It is likely the deal will be finalised in September following the approval from the Ministries of Finance and Defence.