Lisbon, April 1, 2025 (Lusa) - Inapa Portugal's creditors on Tuesday unanimously approved a proposal to sell the company to Black and Blue Investimentos, owned by businessman Carlos Martins, for €390,000.

Bruno da Costa Pereira, the insolvency administrator, told Lusa that the sale of Inapa Portugal was approved with no votes against and an abstention of 3.6% among the creditors present.

The sale of Inapa Portugal, for €390,000, is part of a €600,000 package that also includes bids of €130,000 for Inapa Packaging and €80,000 for Inapa - Comunicação Visual.

This afternoon, Inapa's creditors are due to vote on the sale of Inapa Comunicação Visual, while the vote on the sale of Inapa Packaging is scheduled for Friday.

Contacted by Lusa, Carlos Martins, Martifer's chairman, refused to comment on the deal.

In July last year, the holding company Inapa IPG announced insolvency due to a ‘short-term cash shortage’ of its subsidiary Inapa Deutschland GmbH totalling €12 million, for which no solution was found.

Founded in 1965 and a leader in Portugal in the distribution of paper and packaging, the Inapa group's main shareholder is the state-owned company Parpública, with 44.89% of the share capital.

In August, the Treasury dismissed the Parpública board, led by José Realinho de Matos, and chose Joaquim Cadete to succeed him.

The dismissal was justified by the fact that the administration was more reactive than preventive, as well as a failure to provide the ministry with timely information, according to Jornal de Negócios.

JO/ADB // ADB.

Lusa