Portuguese venture capital fund Alpac Capital – Sociedade de Capital de Risco SA is leading a consortium that means to buy Efacec Power Solutions SGPS SA of Portugal and take it private, Expresso reports, citing Alpac Capital Chief Executive Luís Santos.

The Portuguese newspaper quotes Mr Santos as saying Macao company CESL Asia – Investments & Services Ltd will be part of the consortium.

The report says Alpac Capital has conveyed its intentions to Haitong Bank, a Chinese-owned investment bank in Portugal, which is in charge of selling Efacec Power Solutions.

Alpac Capital means to keep the Efacec head office in Portugal and to expand Efacec operations in Asia with the help of CESL Asia, which has businesses in China and Japan, Expresso quotes Mr Santos as saying.