Teixeira Durate

M&A Activity • Jul 23, 2019

RELEASE

- Privileged Information -

"Teixeira Duarte, S.A." informs about a partnership with the "China State Construction Engineering Corporation" Group for the development of real estate project in Oeiras through the sale of 50% of its subsidiary for the amount of 31.1 million euros

"TEIXEIRA DUARTE, S.A." informs that it has formalized with "CSCEC - China Construction Portugal, SA" - a Portuguese company integrated in the Group led by the "China State Construction Engineering Corporation" - a partnership for the development of a real estate project in Oeiras, Portugal, which is formalized through a contract for the sale of shares corresponding to 50% of the capital stock of a subsidiary of the Teixeira Duarte Group, that held, for long time, the land where the project will be implemented.

The project will be made up of several office buildings, housing and commerce, integrated in a large green park, in a model that is intended to be a reference for innovation and sustainability.

Teixeira Duarte has been operating in Portugal since 1921, having a consolidated experience in real estate for more than 40 years, including in large-scale projects in various market segments and in several countries, having in this project as partner the Group "China State Construction Engineering Corporation", one of the world's largest investment and construction conglomerates, ranked 21st in the "Fortune Global 500" ranking.

The indicated disposal of shares for the aforementioned "CSCEC - China Construction Portugal, S.A." has an estimated impact on the results of "Teixeira Duarte, S.A." of about 22.2 million euros.

Lagoas Park, July 23rd 2019 Investors Relations,

_____________________________________ José Pedro Cobra Ferreira