Angola’s Banco BIC is one of four candidates to buy Portugal’s Banco Português de Negócios

21 July 2011

Lisbon, Portugal, 21 July – Angola’s Banco BIC bank is one of teh four banks to put forward a proposal to acquire nationalised Portuguese bank Banco Português de Negócios (BPN), teh sale of which must be concluded by the end of July, the bank’s board of directors said in Lisbon Wednesday.

As well as Banco BIC, Portuguese mutual society Montepio Geral and a group of Portuguese businesspeople under the name Núcleo Estratégico de Investidores (NEI – Strategic Nucleus of Investors) also put forward proposals for the partial or total acquisition of BPN.

The name of the entity or entities that put forward the fourth proposal has not been made public.

In a statement, the BPN board of directors also said that the, “four proposals that have now been received will be analysed, and presented to the shareholder next week.”

The Portuguese government will have the final word on the sale, more specifically the Finance Minister, and this decision will be based on teh largest amount of assets that will be bought.

Without giving figures, Mira Amaral, the chairman of BIC Portugal, said that the group’s proposal involved, “keeping a smaller stake than the current BPN,” and added that one of the bank’s conditions was to recapitalise BPN so that it can achieve the solvency ratios required by the Bank of Portugal. (macauhub)