Sonangol is no longer the largest shareholder of BCP but ensures the second position in a time which is facing serious financial difficulties. Already in 2014, when the price of a barrel of oil was more favorable to the company, the oil needed to supply its shareholder, the angolan State, to be able to keep track of the capital increase that the BCP was held in that year. Without the injection of capital Sonangol would not have been able to, at that time, to keep the 19.4% that gave them the status of main shareholder, something that has cost 450 million euros.
Shortly after this strategy, in 2015, Isabel dos Santos (businesswoman and daughter of the president of the Republic of Angola, José Eduardo dos Santos) has moved forward with a proposal to merge the BCP with BPI (of which Isabel dos Santos is the second-largest shareholder) in reaction to the first attempt of Caixabank in control of the BIS.
Today, with the TAKEOVER of Caixabank to BPI the course with success, Isabel dos Santos is still the second largest shareholder of this bank. On the other hand, already controlled, via Unitel, the institution that BPI holds in Angola, BFA. And, above all, presides over now to Sonangol: and if this cannot, in the midst of all the difficulties, have money to not dilute the position of BCP is because Isabel dos Santos as the means. The capital held in the bank of portugal is the single investment in the angolan oil company in this sector beyond its borders.
The association to the BCP reveals connections to Carlos Silva, president of the angolan bank Atlantic and that is present in the inter-oceanic. Shareholder of the bank led by Nuno Amado (deputy chairman of the board of directors), Carlos Silva dominates the Millennium Atlantic, which resulted from a merger between the Atlantic and the Millennium Angola. This was, incidentally, one of the results of the entry of Sonangol in the BCP, in 2007, by the hand of Paulo Teixeira Pinto and, later, through the management of Filipe Pinhal, already in the period post-Jardim Gonçalves. At the end of June this year, the position of the oil was still pretty discrete: 2%.