Angola’s Banco BIC to buy Banco Português de Negócios

1 August 2011

Lisbon, Portugal, 1 Aug – Portugal’s Finance Ministry announced in a note issued on Sunday that the sale of Banco Português de Negócios (BPN) will be exclusively negotiated with Angola’s Banco BIC, with an agreement implying the immediate payment of 40 million euros to the state and the eventual release of half of BPN’s employees.

“The government made the decision today to select the proposal of Banco BIC Português S.A. with a view to negotiating on exclusive terms an agreement to dispose of the shares representing the social capital of BPN,” the government indicates in the note.

The document states that the process should be completed in 180 days – six months.

“The proposal presented by Banco BIC ensures the integration of at least 750 of the current 1,580 BPN employees,” the Finance Ministry note indicates.

Banco BIC Português was founded in January 2008 and is the only Angolan private bank in Portugal.

The Portuguese BIC is based in Lisbon and has the same shareholding structure as Banco BIC (Angola).

Its CEO is Fernando Teles. Members of the management board include Isabel dos Santos and Américo Amorim, according to Forbes magazine Portugal’s richest man, who holds about 25 percent of Banco BIC’s shares. (macauhub)