UPDATE: PORTUGAL: Sogrape "unaffected" by stake sale
Sogrape has insisted it will not be affected by the sale of a stake in the holding company that controls the Portuguese wine group.
Reports yesterday (17 July) said that Joe Berardo had signed a deal to buy a 33% stake in Sogrape from the Carmo family for an undisclosed sum.
A spokesperson for Sogrape confirmed that the sale was about to be signed but said the management of the company would be unaffected. She said the transaction concerned the holding company that had majority control of Sogrape, Guedes, Carmo & Silva.
"The control of Sogrape is assured by various holding societies at different levels," she told just-drinks today (18 July).
"Since the 1980s this group of societies has been controlled by a society named Guedes, Carmo & Silva, in which the Guedes family remains the controlling majority shareholder and in which the Carmo family, through Bernardino Carmo & Filho holds a minority share of 31.51%."
She added: "So to this end, Sogrape will not be affected, at any level, by the transfer of the stake between Joe Berardo and the Carmo family."
Sogrape owns a stable of brands including wine label Finca Flichman and Mateus rosé.
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