Portugal make sale of Cape Verde’s BPN-IFI to Angolan bank BIC official

13 March 2013

The contract to sell Cape Verdean bank Banco Português de Negócios – Instituição Financeira Internacional de Cabo Verde for 30 million euros was signed Tuesday by the Portuguese state and Angolan bank BIC, the Portuguese Finance Ministry said in a statement issued in Lisbon.

According to the document, the sale was carried out through Parparticipadas, one of the vehicles set up to absorb the assets of Banco Português de Negócios following its nationalisation and which is directly owned by the Portuguese state, via the Treasury and Finance Directorate.

“Conclusion of the deal depends on obtaining applicable administrative authorisations,” the statement said, according to which “with this sale the process of selling the stakes that were transferred from Banco Português de Negócios, to the Portuguese state in February 2012 continues.”

In 2012 the Portuguese state sold 100 percent of Banco Português de Negócios to BIC Portugal for 40 million euros.

The Portuguese government has also received a proposal to buy BPN-Brasil from BIC Portugal.

The BIC group is owned by bankers associated to Portuguese businessman Américo Amorim and Angolan businesswoman Isabel dos Santos, each with a stake of 25 percent. (macauhub)