BES Angola bank to have more local shareholders by the end of the year

30 October 2009

Lisbon, Portugal, 30 Oct– Banco Espírito Santo Angola (BESA) will have new Angolan shareholders before the end of this year, the bank’s chairman, Álvaro Sobrinho said Thursday in Lisbon.

“There is interest on both sides and thus by the end of the year there may be news,” said Sobrinho referring to the increased stakes of Angolan investors up to 49 percent of the bank’s shares, which is majority-owned by Banco Espírito Santo (BES).

Twenty percent of BES Angola is currently in Angolan hands, but “there is total openness on BES’ part to sell more,” Sobrinho noted.

Sobrinho told Portuguese news agency Lusa that there was no deadline, but that if there was interest from both sides the situation could change by the end of the year. (macauhub)