Chairman of the BPI says that it had no alternative to provide control of BFA – Public.en

The president of BPI Artur Santos Silva, has taken on this Wednesday that the European Central Bank (ECB) “forced” the solution that will solve the over exposure to Angola, which passes through a transfer of control of the bank to Unitel, controlled by businesswoman Isabel dos Santos.

At the end of the general assembly (GA) of shareholders which approved the desblindagem of the statute of the bank — a decision that will allow the control of the bank by the Caixabank — Artur santos Silva could not hide his discomfort with the solution for the BFA.

“THE BPI had no alternative that was not the de-consolidation of the BFA [Bank of Fomento Angola],” he said, explaining that this implies reduce its stake from 50.1% to 48.1% and to change the shareholders ‘ agreement, which involves the transfer of political rights of participation. In practice, the participation of BPI shall be merely financial, or is, you will only receive results in the form of dividends.

This was not the initial proposal of the directors of the bank, which sought to separate the business, distributing to the shareholders of the corresponding part of the actions of the BFA, a solution that the european banking authority has not accepted. The same happened in the face of the proposal of Unitel, which wanted to buy more 10% of the share capital of angolan bank, which would allow the BIS to participate in the management, but that has been waged by the ECB.

Asked about the change of position, since now the board of directors submitted a proposal which virtually means an expropriation of the BFA, Artur Santos Silva limited to say: “life changes.” Despite the caution in the statements, Santos Silva admitted that the proposed agreement to Unitel “assumed the desblindagem of the statute”, which was also a requirement of the ECB.

About the Spanish domination, which from now on shall be possible, with the closing of the public offering of acquisition on the course, on the part of the Caixabank, the chairman of the bank has assumed that, “unfortunately, the Portuguese capital and are not able to withstand the demands of an institution”, referring to the dilution of the participations in domestic shareholders, who represent only 5% of the BPI. “A long time ago that this dream of many, and including myself, it is not possible,” he said.