The Lisbon office of Cuatrecasas Gonçalves Pereira advised manufacturers Efacec Capital and Rohde & Schwarz on the sale of a 56.89 per cent share in Empresa de Investigação e Desenvolvimento de Electrónica (EID).
The stake was sold to the technology group Cohort for €10.7 million.
EID is a Portugal-based supplier of advanced electronics, communications and command and control products and systems for the global defence market.
Cohort has agreed in principle to acquire a further stake from two Portuguese government agencies on the same terms, with the result that its final holding in EID will be 80 per cent at a total cost of €15m.
Completion of this additional transaction is dependent on the necessary approvals from the Portuguese government.
The Cuatrecasas team was led by partner João Mattamouros Resende, and also included partners Duarte Abecasis and Lourenço Vilhena de Freitas.