Portugal: BCP negotiates sale of 10 pct of Millennium bim/Moçambique, keeping majority share

30 January 2009

Lisbon, Portugal, 30 Jan – Portuguese banking group Banco Comercial Português (BCP) confirmed Friday that it is in negotiations with a Mozambican group with a view to the potential sale of 10 percent of Millennium Bim, of Mozambique, keeping control of the bank.

Negotiations are for the “acquisition, by this [Mozambican group], of a stake of up to a maximum of 10 percent of BIM – Banco Internacuional de Moçambique,” the statement said.

The potential sale of up to 10 percent would not alter BCP’s position as majority shareholder as BCP “currently owns, directly and indirectly, 66.69 percent of BIM’s capital.”

The Mozambican press has reported that the interested party is the Graça Machel foundation, which the bank has declined to confirmed.

BCP also announced it was looking at a potential sale of its operations in Turkey. (macauhub)