in the Event that the CaixaBank you are able to achieve 90% of the share capital of BPI with this GRANDPA, you can appeal to the mechanism of the acquisition potestativa which implies the immediate exclusion from trading on the stock exchange of banco português
The CaixaBank launched a new Public Offer of Acquisition (OPA) on the entire share capital of BPI, improving the price in the face of the previous offer, of 1,113 euros per share to 1,134, reported this Wednesday the bank Catalan.
the conditions of The new tender offer, which became mandatory after the shareholders of BPI have approved this Wednesday in a meeting magna the desblindagem of the statute of the Portuguese bank, were reported in the preliminary announcement sent by CaixaBank to the Commission for the Securities Market (CMVM).
For the rest, the supervisor was issued on Wednesday a statement stating, “to consider terminated the effects of the proof for the absence of control over Banco BPI, SA, previously held before this Commission by CaixaBank SA”, and finding that the Spanish bank “was established on this date in the duty to launch of a Takeover Bid [OPA] on the totality of the share capital of Banco BPI, SA”.
This decision of the regulator comes after shareholders of the BPI, which were gathered in the General Assembly, in the Port, they have approved the proposal of desblindagem of the statute of the bank, putting an end to the limitation of the voting rights and clearing the way for the success of the TAKEOVER bid launched by the largest shareholder, spain’s CaixaBank.
The limitation of these rights gave until now to CaixaBank, which has more than 45% of the shares, a decision-making power of only 20%, similar to that of the second shareholder, the entrepreneur angolan Isabel dos Santos, which holds 18.6% of the capital of the company also angolan Santoro.
in Addition to opening the way to the control of BPI by CaixaBank, the desblindagem of the statute also allows the reduction of the exposure of the BPI in Angola, which is mandatory according to the European Central Bank (ECB), once on Tuesday evening it has been known that the administration of BPI made a new proposal to the angolan partners, which involves the sale of 2% of the share capital of Banco de Fomento Angola (BFA) to the mobile operator Unitel for 28 million euros, allowing the operator, the angolan will be the largest shareholder.
Currently, the BPI holds 50.1% of the share capital of BFA, while Unitel is the owner of 49.9%, and the goal of this operation is to resolve the situation of exceeding the limit of large exposures imposed by the ECB in relation to bank’s exposure to the Portuguese in Angola.
This proposal is made to the mobile operator Unitel, Isabel dos Santos, was subject to desblindagem of the statute of the Portuguese bank, which came to check.
last April, the CaixaBank had announced the intention to proceed with a TAKEOVER bid on BPI at a price of 1,113 euros per share, valuing the bank at 1,600 million euros.
in This new OPA financial intermediary that represents the catalans is the Deutsche Bank – Sucursal em Portugal.
The CaixaBank prepares the launch of the OPA to obtain the non-opposition of the various supervisory authorities of the various jurisdictions where the BPI acts, in addition to the Bank of Spain, in particular, the European Central Bank (ECB), the Supervisory Authority of Insurance and Pension Funds (ASF), the European Commission, the supervisor of luxembourg, and the supervisor of the Cayman Islands, the National Bank of Angola and Bank of Mozambique.
in the Event that the CaixaBank you are able to achieve 90% of the share capital of BPI with this GRANDPA, you can appeal to the mechanism of the acquisition potestativa which implies the immediate exclusion from trading on the stock exchange of the Portuguese bank.