In May 2015, the Steps Government Coelho did not pursue the offer of Ample Harvest Investment Capital (and refused, then open tender) who admitted paying 700 million euros for the State’s shares in Banif , which would entail a loss of 15% for taxpayers who at the time had funds at risk 825 million. Seven months later, the bank would eventually be the subject of a resolution by the current executive with a loss to the Treasury of up to 3000 million.
The purpose of acquisition of Banif control by Ample Harvest Capital Investment has not hitherto been reported in any of the hearings of the Parliamentary Commission of inquiry on sale (Santander) and the resolution of Banif. And where they have been held to account some of the dossier of the protagonists: the current Minister Mario Centeno, former Finance Minister Maria Luis Albuquerque, the governor of the Bank of Portugal, Carlos Costa, the former responsible for supervision, Antonio Varela ( Banif and former administrator representing the State), and two former presidents of the institution, Luís Amado (non-executive), Jorge Tomé (executive).
The “letter” is known to all and was sent in mid-May 2015 the previous Government by the Hong Kong background, but not even mentioned the extensive documentation sent to Members by the various entities. Although non-binding and subject to due diligence, arrived with the structure of the transaction and the reference value of the purchase of 61% stake in state hands: around € 700 million. And gazed around the perimeter of the institution, such as the purchase of the entire branch network, the maintenance of the Banif jobs and Açoreana insurer. Details not made a ‘mere expression of interest “.
But the verdict was not to pursue the proposal Ample because it was considered that it was not timely and lead to the departure a loss to the treasury of the order of 15%. May the risk of taxpayers’ money at Banif was 825 million, had since the 1100 million that the state injected the bank has returned 275 million.
The state representatives in Banif raised obstacles to the application of Ample to start a due diligence, which was accepted by Thomas management, found the PUBLIC from a former head of the guardianship. Information validated by an unofficial source supervisor. The position of Finance was founded by the decision of December 2014 that he intended to split the bank into two: a “good bank” to sell by the end of 2017; a “bad bank”, a special vehicle where the non-strategic and troubled assets would be placed. A strong argument because the expectation of the Government and the BoP was that the split came to value the assets, an analysis that proved to be a mistake.
The impasse in Banif theme is not oblivious to what seemed be in May 2015, the major concern: the successful tender of the New Bank privatization (where the State had applied 3900 million) and then faced serious difficulties. Which, incidentally, was explicit in September, they did not appear firm offers. Today the bank is still not sold.
The coincidence of calendars between the New Bank and Banif and political priorities have been behind the executive previous option, and bop, to refuse to open a public competition organized voluntary Banif sale during the first half of last year, when the financial situation was apparently stabilized. And that would have made it possible to discuss the proposal Ample.
In the CPI Jorge Tomé never alluded to Ample, but said, in an aside, that he had received a proposal with a reference value. And strangely nothing said. PUBLIC tried throughout the day yesterday to contact the manager, who was always unavailable.
This is another one of the “mysteries” that CPI will have to respond, because the initiative Hong Kong fund is documented in Finance and bop.
In the hearings in the CPI or the former minister or the governor or Antonio Varela gave as an explanation for not having achieved over the last two years to sell the Banif the fact that only have received letters with “mere expressions of interest. “
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