CaixaBank and Isabel dos Santos. There is agreement in the BPI – Observer

Isabel dos Santos and CaixaBank will be closed on Saturday, negotiations that will lead to a solution to the impasse surrounding the BIS capital and the fate of the Banco de Fomento Angola ( BFA). The news was released by the SIC that the appropriate site reports that the two sides reached agreement and that got the “green light” from the regulators of the capital market and banking supervision.

Spain’s CaixaBank investors will strengthen the position on the BPI and are in control of the bank, which will require the launch of a tender offer (OPA) for all the shares of the institution led by Fernando Ulrich. The Angolan businesswoman, will have access to the capital area of ​​BFA.

The CaixaBank holds 44.1% of BPI and could take the 18.6% that are in the hands of Isabel dos Santos . The entrepreneur also has a stake of 42.5% in Banco BIC, the largest shareholder of the institution, which has 1.9% of BPI.

BPI had a deadline of April 10, this Sunday to solve the problem of excessive concentration in Angola. The European Central Bank (ECB) informed the national authorities that the bank led by Fernando Ulrich would be subject to a daily fine until they fulfill the requirements of the ECB and not reduce the exposure on Angola, which has a position of 50.1% BFA, a market that has lost the supervision of equivalence in the eyes of Frankfurt.

the setting of a daily fine was seen as the most likely to punish BPI if this issue would not be resolved, and penalty could amount to 5% of the volume of average daily bank business. According to the Business Journal accounts, the amount of the fine could amount to 3.2 million euros per day.

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