Angola’s Sonangol owns almost 20 pct of Portuguese bank Banco Comercial Português

27 February 2013

Angolan oil company Sociedade Nacional de Combustíveis de Angola (Sonangol) now owns 19.44 percent of Portugal’s largest private bank, Banco Comercial Português (BCP), the chairman of the oil company, Francisco de Lemos José Maria, said Monday in Luanda.

During a meeting to celebrate the company’s 37th anniversary, Lemos José Maria noted that the company’s stake in BCP was close to 20 percent and added that “we will maintain that shareholding.”

This stake means that Sonangol is not only the biggest single shareholder of BCP, but also that its stake is the same size as that of the remaining significant shareholders put together.

Portuguese financial newspaper Diário Económico reported that the increase in Sonangol’s stake was likely to have been purchased on the stock market as, according to the previously announced stake, dated October 2012, Sonangol owned 15.08 percent of BCP. (macauhub)