Portugal’s BCP wraps up sale of Macau assets to HK group

21 December 2005

Lisbon, Portugal, 21 Dec – BCP, Portugal’s biggest financial group, has announced the conclusion of a deal to sell all its banking and insurance operations in Macau to the Dah Sing Bank of Hong Kong for 179 million euros.

In a statement released Tuesday, BCP said it has finalized sale of its stakes in Banco Comercial de Macau (100 percent), Companhia de Seguros de Macau (96 percent) and Companhia de Seguros de Macau (96 percent) to the Hong Kong group.

The offloading of the Portuguese group’s Macau assets is “part of a strategy to focus on core activities”, said the BCP statement. (macauhub)