Sale of BPN Cabo Verde to Angola’s Banco Bic expected to be completed next week

27 February 2013

The sale of Cape Verdean bank Banco Português de Negócios (BPN) Cabo Verde is due to be completed in the next week, the chairman of the State companies created to absorb the assets of Portuguese bank BPN following its nationalisation, told Portuguese financial daily Diário Económico.

Francisco Nogueira Leite said that “the process is expected to be official by the end of next week” and noted that the processes of selling BPN Brasil and insurance company Rela Vida Seguros “are now being analysed and ready to get a final decision from the government.”

Both BPN Cabo Verde and BPN Brasil are due to be sold to Angola’s Banco BIC.

The newspaper added that if these date are confirmed, Nogueira Leite will have met the deadline of selling off most of the BPN stakes by the end of the first quarter of this year. (macauhub)