Santoro Finance increases stake in Portuguese bank BPI

26 November 2010

Lisbon, Portugal, 26 Nov – Santoro Finance – Prestação de Serviços, owned by Angolan businesswoman Isabel dos Santos, now owns 9.8 percent of Portuguese bank BPI, following acquisitions made this week, the bank said.

According to a statement filed with Portuguese stock market regulator CMVM, Santoro Finance – Prestação de Serviços acquired a further 997,000 shares in Banco BPI in purchases on the 22,23 and 24 November, and paid a total of 1.4 million euros.

Santoro Finance – Prestação de Serviços also owns 25 percent of BIC Portugal, an Angolan banking subsidiary.

In Angola, BPI sold 49 percent of Banco de Fomento de Angola to Unitel, a telecommunications operators and one of the largest companies in Angola, which has Geni, a company also linked to Isabel dos Santos, as a shareholder with 25 percent.

The main shareholders of BPI are Spain’s, La Caixa, with almost 30 percent, Brazil’s Itaú bank, with 20 percent and German insurer Allianz, with around 10 percent. (macauhub)