Diário Económico highlights PLMJ's legal advice to Glintt on the sale of three of the group's subsidiaries

PLMJ provided legal advice to Glintt – Global Intelligent Technologies, S.A., on the sale of the entire share capital of its subsidiaries Glintt – Business Process Outsourcing S.A., Netpeople – Tecnologias de Informação S.A. and Glintt – Technology Enabled Services S.A. to HCCM – Outsourcing Investment S.A. (owned by HCapital).

The deal, with a value of EUR 7 million, was concluded on 27 November. It is part of the plan to restructure the corporate organisation of Glintt’s non-core business, which was announced in February of this year.

This was a complex operation that lasted around one year and involved various stages. The operation began with a private bid to choose the buyer and this was followed by a restructuring of the businesses. There was also a division of Glintt – Technology Enabled Services S.A., the sale and purchase agreement and the verification of various conditions precedent that required, among other points, negotiation with around 14 banking institutions.

The PLMJ team responsible for this operation was headed by Maria João Mata, the partner in charge of the M&A team, and Miguel Urbano, a partner from the corporate/M&A practice. They were assisted in the structuring and implementation of the operation by PLMJ partner Víctor Réfega Fernandes, together with a large team of lawyers and trainee lawyers.

Glintt – Global Intelligent Technologies is one of Portugal’s largest technology companies and is quoted Euronext Lisbon. Glintt operates not only in Europe, but also in Africa and Latin America, and has a strong presence in the banking, telecommunications, healthcare, commerce, industry and public administration sectors.