Angolan businesswoman Isabel dos Santos plans to increase stake in Banco BIC

13 May 2014

Angolan businesswoman Isabel dos Santos, who owns 25 percent of Banco BIC, plans to acquire another 25 percent stake owned in the Angolan bank by Portuguese businessman Américo Amorim, and the two sides are in negotiations according to Portuguese financial daily Diário Económico.

The newspaper said that if this deal goes ahead dos Santos will substantially increase her stake in the Portuguese banking system, as she is already the second-largest shareholder of BPI, with a stake of 19.5 percent owned directly by her company Santoro Finance – Prestação de Serviços.

As well as Isabel dos Santos and Américo Amorim, Banco BIC’s shareholders are its chief executive Fernando Teles (20 percent), Ruasgest (10 percent), Luís Santos (5 percent), Manuel Pinheiro Fernandes (5 percent) and Sebastião Lavrador (5 percent).

Banco BIC has two subsidiaries, one in Angola and another in Portugal and started operating in 2005, first in Angola and three years later in Portugal where it recently acquired nationalised Portuguese bank Banco Português de Negócios (BPN). (macauhub/AO/PT)