The three heirs of Pedro Queiroz Pereira completed on Monday, September 14, the merger of the two holdings through which they control Semapa, owner of paper company Navigator. The operation consisted of the merger by incorporation of Cimo – Gestão de Participações SGPS into Sodim, with Cimo being wholly owned by Sodim.
Before the merger, Cimo held 47.938% of the share capital and voting rights of Semapa, while Sodim held 33.849%. Semapa itself held 70.030% of Navigator. With the merger, the total of 66,468,323 shares of Semapa, representing 81.787% of the share capital and voting rights, came to be held directly by Sodim.
The three sisters – Filipa, Mafalda and Lua Mendes de Almeida de Queiroz Pereira – continue to control the group through their own holdings. Each controls 21.56% of the share capital of Sodim: Filipa through Target One Capital, Mafalda through Keytarget Investments, and Lua through Premium Caeli. The chain of control remains unchanged at the top, sustained by a shareholders' agreement between the sisters.
The operation simplifies the chain of qualified holdings that sustains one of the largest industrial groups in Portugal. Sodim now becomes the entity that directly holds the 81.787% of Semapa, which remains the vehicle holding the 70.03% of Navigator, the main asset of the group.
