Spanish Bank Abanca buys 95% of Portuguese-Angolan EuroBic bank

11 February 2020

Spanish bank Abanca reached an agreement to buy 95% of the capital of EuroBic, a private Portuguese bank owned by Portuguese and Angolan shareholders, with headquarters in Lisbon, Abanca said in a statement.

Santoro Financial Holding SGPS, owned by Angolan businesswoman Isabel dos Santos, with 25% and Fernando Leonídio Mendes Teles with 20% are the main shareholders of the bank, which includes among other shareholders Finisantoro Holding Limited and Telegest B.V., with 17.5% each.

The statement signed by the Chief Executive of Abanca, Juan Carlos Escotet, did not mention the amount agreed for the purchase of the stake but noted that the Bank of Portugal had been informed in detail about the terms of the operation.

The Bank of Portugal issued a statement noting that it had been informed by Abanca and adding that the operation will be examined by the European Central Bank.

“In accordance with the applicable law and European regulations, this acquisition is subject to authorisation from the European Central Bank, in conjunction with the Bank of Portugal, once the required information has been received and analysed,” said the brief statement issued by the Portuguese central bank. (macauhub)