Joseph Portelli to quit CF Estates in €6.65 million deal

Shareholders agree to cancel Portelli's shares in property development firm

Joseph Portelli is leaving his role as shareholder with real estate company CF Estates Ltd after he secured a €6.65 million deal with the company.

The company released a statement on Tuesday announcing that its board of directors and shareholders have mutually agreed to cancel Portelli’s 1,892,460 Ordinary A shares of a nominal value of €1.00. This represents 30 per cent of the company’s issued share capital.

For these shares, Portelli will receive €6.65 million through “monetary and in-kind consideration”, which represents 30 per cent of the enterprise value of CF Estates as of September 30, 2025.

This means that he will not only be getting cash but will also likely receive other assets to make up the €6.65 million.

Read the full story at thebusinesspicture.com

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