José Realino de Matos will remain a member of the Board of Directors of Estamo – Participações Imobiliárias, 100% owned by Parpública SGPS, until the end of his term which, according to our sources, ends at the end of this year.
The government decided to change the management of Parapublica last week by appointing a new chairman. a contract The state that owns shares in the companies, Joaquim Cadete. Until then, the ParPublica was headed by José Realino de Matos, who was appointed in November last year for the period 2023-2025.
However, as Jornal Económico learns, José Realino de Matos will remain a member of the board of directors of Estamo – Participações Imobiliárias, 100% owned by Parpública SGPS, until the end of the term which, according to our sources, ends at the end of this year. The Estamo board of directors is currently chaired by Antonio Furtado, and includes Maria de Fátima Madureira as a member of the board, in addition to the former president of Parpública.
Last Thursday, the regency led by Joaquim Miranda Sarmiento informed José Realino de Matos that he would replace the management of ParPublica. This happens after the Inapa case.
The departure was justified by the administration’s more reactive than preventive stance, as well as the failure to provide information to the ministry in a timely manner, often leaving the state without options in decision-making, according to the center. “Business Magazine” Who first broke the news. Negócios says that Inaba is one of the last cases where the difficulties of communicating with the guardianship were more pressing, recalling that Inaba’s management pointed the finger at the public company, holding it responsible for the insolvency. But it will not be the only case, according to Negócios.
Inapa’s executive committee went so far as to say, at the beginning of this month, that it was “absolutely not possible” to reach a solution to capitalize the company “due to the unavailability” of Parpública’s largest shareholder, with whom it had made “more than 50 contacts” to recapitalize and restructure the group.
The administration, composed of José Realinho de Matos and administrators Elisa Cardoso and João Marcelo, was appointed by former Finance Minister Fernando Medina, effective November 6, 2023. Vice President Marco Neves took office on December 1 of this year.
The management of real estate assets of the state and public institutions was developed by ESTAMO and with the current government it came under the responsibility of the Ministry of Finance and the Ministry of Infrastructure and Housing, a measure aimed at accelerating the use of state property for the benefit of public housing policies.
Parapublica participated in the capital increase of Estamo, at the end of 2023, worth 212 million euros, according to a statement published on the public capital company’s website in May.
“In order to provide Estamo with the necessary resources to respond to the new requirements assigned to it, Barpublika has subscribed to the capital increase of Estamo, at the end of 2023, with a global value of 212 million euros,” according to the offering note.
Parpública explained that the capital increase was achieved through 196 million euros of in-kind contribution of shares held in Arco Ribeirinho Sul and Consest – Promoção Imobiliária, with “16 million euros provided throughout the current year through cash contributions.”
Among the challenges facing Estamo, which manages the state’s real estate assets, is “the implementation of the Arco Ribeirinho Sul project, which covers urban rehabilitation and land valuation, with the aim of urban rehabilitation of the entire area that is usually defined as the urban area,” Barbública stressed, including the former Lesnave facilities, near Almada, as well as the lands managed by the former Baia do Tejo.
Estamo also has “competence in promoting the Arrendar para Subarrendar program, which aims to rent out properties for sublease, at affordable prices, to families with difficulties in accessing housing”, having obtained “new powers and competencies to manage public real estate assets in the name and on behalf of the State, which were previously under the General Directorate of Treasury and Finance.
ParPublica highlighted that the management of Consest was already Estamo’s responsibility, “justifying the direct integration into its assets as a means of simplifying management and pursuing objectives,” according to news from Lusa in May.
Parpública is also the owner of Fundiestamo – the management company of collective investment organizations (real estate investment funds).
The new management of Parpública will be responsible, according to the list available on the Parpública website, for managing the shares of 19 companies, eight of which have exclusive control.
One of the most pressing files that is now in the hands of Joaquim Cadete is the sale of the Hospital da Cruz Vermelha, which is still ongoing. Parpública owns, with 45%, CVP, the hospital management association that manages the Hospital da Cruz Vermelha in Lisbon.
In TAP, Parpública currently owns only 1%.
In addition to the president, Joaquim Cadete, the management of the company that has the commercial interests of the state also consists of João Pinhão, João Ferreira and Cristina Carvalho as members; and Pedro Fontes Falcão and Maria João Araujo as non-executive directors.
