Angolan companies own 13.7 pct of Portuguese bank Millennium bcp

18 October 2012

Angolan oil company Sociedade Nacional de Combustíveis de Angola (Sonangol) now has an 11.6 percent stake in Portuguese private bank Millennium bcp after increasing its stake by 0.57 percentage points due to a rights acquisition, according to Portuguese newspaper Diário Económico.

In its turn, the stake owned by Interoceânico, a company controlled by Angolan bank Banco Privado Atlântico, rose to 2.1 percent, thus increasing the percentage of Millennium bcp owned by Angolan companies to 13.7 percent, which is still below the 20 percent limit set for Sonangol by the Bank of Portugal.

BCP’s capital increase of 500 million euros, from 3 billion euros, to 3.5 billion euros, did not affect the bank’s shareholder structure in terms of its largest shareholders, as they continued to have the same share of the bank in comparison to each other.

At the beginning of 2012, at the Sonangol annual press conference, the chairman of the oil company, Francisco de Lemos, gave assurances that he would wait for the Millennium BCP general meeting, on 28 and 29 February 2013, to decide if Sonangol would increase its stake in BCP.

At the time, as well as Lemos, director Baptista Sumbe also talked about Sonangol’s future in Millennium bcp, noting that Angolan oil company was authorised to increase its stake in the bank up to 20 percent.

It is important to note that the shareholder structure of Angolan bank Banco Privado Atlântico is made up of state group Sonangol, asset management company GlobalPactum, and by BCP Millennium Angola as well as by financial sector staff. (macauhub)