Sonae SGPS SA (Sonae) is a Portugal-based holding company primarily engaged in the retail trade of food. The Company divides its business into six segments: Sonae MC, which is active in the food retail mainly through hypermarkets, supermarkets and franchised local food stores; Sonae SR, which includes specialized retail stores, such as electronics, sports goods and fashion shops; Sonae RP, which is involved in the real estate sector; Sonae Sierra, which develops and manages shopping malls; Sonaecom, which provides integrated telecommunication services, and the Investment Management, which support the Company�s business through the assets portfolio management. As of December 31, 2011, the Company's brand names included Continente, Worten, Sportzone, Modalfa and Zippy. The Company operates in Portugal, Spain, Greece, Germany, Italy, Turkey, Netherlands and Brazil, among others.