Isabel dos Santos and Caixabank have reached agreement on the future of BPI – publico

 
         

                 

                         
                     

                         

                 

 
 

Isabel dos Santos have reached agreement with CaixaBank to the exit of BPI’s capital, said the SIC Notícias. An agreement that allows Spanish strengthen control of the Portuguese bank. On the other hand, the Angolan businesswoman gets control of Banco Fomento de Angola (BFA).

The two parties had to reach an agreement until this Sunday, the date set by the European Central Bank (ECB) BPI to reduce excessive risk concentration in Angola. Without an agreement, the regulator would impose daily fines BPI that can reach 160,000 euros per day.

The CaixaBank holds 44.10% of the share capital of BPI (although being able to exercise 20% of votes due to the shielding of the statutes), while Santoro Finance, the holding Isabel dos Santos, is the second largest shareholder of the institution led by Fernando Ulrich, with 18.58%.

negotiations ongoing for weeks, and more than once, if even announced the imminence of an agreement, which does not come to confirm. In an excerpt from the interview he gave to the Daily News and the TSF, released Saturday, the prime minister said he had confidence that the two sides would reach “an agreement in due time.” António Costa argues that there is no agreement, “the ECB will take into account that there are legal procedures that have their own time and that does not justify the imposition of fines”

On the table were two themes.: sale to CaixaBank’s position of 21% of BPI and which is represented by Isabel dos Santos (in addition to the 18.58% that has directly join another 2.2% via the BIC Angola) and the purchase of 50, 1% which BPI holds BFA (the remaining capital in the hands of Unitel also of the business).