Sonae, SGPS, S.A. ( OTC:SOSSF ) Q1 2024 Earnings Conference Call May 22, 2024 3:30 AM ET Company Participants João Dolores - Chief Financial Officer Fernando van Zeller - Chief Financial Officer, MC Conference Call Participants João Pinto - JB Capital José Rito - CaixaBank António Seladas - AS Independent Research Operator Good morning.
We welcome you to Sonae's First Quarter 2024 Results Conference Call. During the presentation, hosted by Mr. João Dolores, Sonae's CFO, all participants will be in listen-only mode.
Q&A is available after the presentation. [Operator Instructions] I now hand the call over to Mr. João Dolores.
Please go ahead, sir. João Dolores Good morning. Hello, everyone.
Welcome to Sonae's results conference call for the first quarter of 2024. Besides myself and the Investor Relations team, we have on the call, Cristina Novais from Bright Pixel, Fernando van Zeller from MC, Luís Mota Duarte from Sierra, and Paulo Simões from Worten. I would like to start by giving you a quick note on our portfolio as we have made important moves this year.
The first quarter of '24 was marked by the integration of Musti into our portfolio, following the successful public tender offer launched in November of '23. In March, the consortium led by Sonae reached just over 80% of Musti's share capital with a total investment of roughly €700 million. This operation is an important step in the development and future proofing of our portfolio as we expand into new .