Haitong Bank Fund acquired 100% of the shares of the Portuguese company Ach Brito for just 1 euro – Observer

A fund from Haitong Bank (formerly BES Investimento) acquired 100% of the shares of the Portuguese soap company Ach Brito, founded in 1918 – that is, more than 100 years ago – for just one euro.

the news is Submitted by Journal de NegosiosThis suggests that Ach Brito was not able to repay the loans given to her by the fund. Then it was converted into shares, as Ach Brito became exclusively owned by Haitong Bank. Jornal de Negócios also notes that the company, when contacted, preferred not to provide clarification on this process.

Negosios, which currently has about 80 employees, says it has been “entangled” with the Covid-19 pandemic. Soaps from one of its main brands, Claus Porto (which has two stores in Lisbon and one in Porto), has been praised even by celebrity presenter Oprah Winfrey in the Oprah’s Favorite Things section of The Oprah Winfrey Show. There the famous American interlocutor said:

This is a very large soap. They are Claus Porto soap. I love them. (…) It has been manufactured at the Claus Porto factory in Portugal for 117 years. “

In 2018, the Observer Tell the story of this company, which was then owned by the fourth generation family of Achilles de Brito. There, the grandson of the company’s founder, Aquiles de Brito (actually with only one “l”), is said to have sold part of the company in 2015, selling a majority stake to Menlo Capital, a venture capital firm. Portuguese.

100 years of serials and gatherings. Who is Achilles de Brito?