Bank of Brazil and Angola’s BIC interested in buying Portugal’s BPN

15 June 2011

Lisbon, Portugal, 15 June – The Bank of Brazil and Angola’s BIC bank are part of a small group of investors interested in negotiations for the reprivatisation of Portuguese bank Banco Português de Negócios (BPN), which are due to begin after publication of the decree that legislates for the operation, Portuguese financial daily Diário Económico reported.

The newspaper said that Spain’s BBVA and UK bank Barclays were out of the running to acquire the nationalised bank.

“The Bank of Brazil is in fact one of the main interested parties,” a source told Diário Económico.

The Brazilian government pledged to help Portugal to climb out of its crisis and the acquisition of BPN is one of the ways of doing this, although the Bank of Brazil has an ambitious international expansion plan underway and may make use of the crisis to buy at a cheap price in Portugal. (macauhub)