LISBON: Portugal’s Mello family has survived two world wars, nationalisation and an international bailout. Their strategy of sticking together and getting the timing right on some key decisions looks like it has paid off once again, even in the midst of a global pandemic.
The billionaire clan, which played a central role in Portugal’s industrialisation, late last month agreed to one of its largest ever divestments: the sale of a stake in Brisa-Auto Estradas de Portugal SA, valuing the country’s biggest toll-road operator at more than €3bil (US$3.3bil).