Portuguese group Espírito Santo to sell 24 percent of BES Angola to Angolan groups

24 November 2009

Lisbon, Portugal, 24 Nov – The process of selling 24 percent of the capital of Banco Espírito Santo Angola (BESA) to Angolan investors will be concluded soon, the chairman of Portuguese banking group Banco Espírito Santo (BES), Ricardo Salgado said in Lisbon Monday.

“The Angolan investors have shown interest in boosting [their stake in BESA] and we have already agreed,” Salgado said, on the sidelines of the Prémios Inovação prize-giving, noting that “BES will keep a majority stake.”

BES previously sold 20 percent of BESA to Angolan investors and 5 percent to the management team and at the end of this process BES will own 51 percent of the Angolan bank.

In terms of the figures involved in the operation, Salgado said only that the amount had yet to be established. (macauhub)