Q1 2022 Sonae SGPS SA Earnings Call Transcript
Thank you very much. Hi, everyone, and good afternoon, and welcome to Sonae Q1 '22 Results Conference Call. As usual, besides myself from the Investor Relations team, we have on the call, Rui Almeida from MC; Paulo Simões from Worten; Martinez from Zeitreel; LuÃÂs Mota Duarte from Sierra; and Cristina Novais from Bright Pixel.
Just before we dive into the results, I would like to give you a quick note on the portfolio management activity in the quarter. So first, as you know, Sonae acquired an additional 10% stake in Sierra for EUR 83.5 million following the exercise of a put option by Grosvenor, and we now hold 90% of the company. This acquisition was done at a 10% discount versus NAV at the end of 2021.
On the other hand, Bright Pixel continues to actively manage its portfolio with 2 exits, SaphetyPay and ciValue, which represented a total of around EUR 40 million of cash proceeds, and also 2 new minority investments apart from some follow-on investments on its portfolio companies, and I
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