Sonangol’s stake in Portugal’s Millennium bcp is reduced and stake of Stanley Ho’s group drops below 2 pct

21 June 2011

Lisbon, Portugal, 21 June – The stake owned by Angolan state group Sonangol in Portuguese bank Millennium bcp has fallen from 14.59 percent at the end of 2010 to 12.43 percent after the bank’s capital increase, the bank said in a statement filed with the Portuguese market regulator in Lisbon.

According to the statement published by regulator CMVM, the dilution of Sonangol’s shareholding was due to the capital increase of almost 1 billion euros being carried out by converting debt into shares and was thus not available to shareholders.

Even so, the number of shares owned by Sonangol has risen from 685.13 million to 895.85 million, as it took part in the final phase of the capital increase, which involved exercising rights.

In the statement where it informed the market of the new percentages for stake-holdings, Millennium bcp said that its main shareholders – groups Berardo, Teixeira Duarte, EDP – Energias de Portugal and state banking group Caixa Geral de Depósitos – had seen their stakes lowered in percentage terms.

In this group of companies with stakes of over 2 percent in the bank after the capital increase there are two new companies, insurance company Ocidental with 9.83 percent and Pensõesgere with 3.85 percent, which are precisely the companies that were owed most by the bank and debts were swapped for shares.

The previous shareholder structure included the Stanley Ho group with a stake of 2.26 percent, although it is no longer included on the list of companies with a stake of more than 2 percent in Portugal’s largest private bank. (macauhub)