Government leaves BES and Banif on list of entities that may participate in privatisations

When privatising, the government has a list of pre-selected entities that can participate in these operations. This list is several years old, but has now been revised to include five new institutions, but maintains others that no longer exist. This is the case with BES or Banif.

In the order “approving the alteration of the list of pre-qualified entities to intervene in privatization processes,” published in the Official Gazette of the Republic of Portugal, the Secretary of State of the Treasury, Miguel Jorge de Campos Cruz, reveals the inclusion of a further five entities which have expressed an interest in joining the list. These are new ones:

• BDO Consulting, Lda.
• Grant Thornton & Associados, SROC, Lda.
• Moneris – Serviços de Gestão, S. A.
• PKF II Portugal, Lda.
• Roland Berger – Consultores de Estratégia, Lda.

The decision to revise this list, integrating new entities, relates, as stated in the order, to “the changes that have occurred in the financial system and the universe of other entities specialized in these matters”. “Changes that have reduced the availability of all pre-qualified entities to ensure the provision of the services in question, which justifies the need to update the aforementioned list.”

The reason for the reduction in pre-qualified entities for privatization is merger and acquisition operations, but also measures which have resulted in the resolution of institutions such as Banif or BES.

Despite highlighting these events, the Ministry of Finance has revised the list of these entities without excluding many of these names. Hence the list attached to this order includes Banif and BES as pre-qualified candidates, as well as Finibanco, which was purchased a few years ago by Montepio.

This is the complete list of pre-qualified candidates for privatisation processes:

• ABN AMRO Bank, N. V.
• Banco Bilbao Vizcaya Argentina, S. A.
• Banco de Investimento Global, S. A.
• Banco Efisa, S. A.
• Banco Espírito Santo de Investimento, S. A.
• Banco Espírito Santo, S. A.
• Banco Finantia, S. A.
• Banco Invest, S. A.
• Banco Millenium BCP Investimento, S. A.
• Banco Português de Investimento, S. A.
• BANIF – Banco Internacional do Funchal, S. A.
• BNP PARIBAS.
• BSN – Banco Santander de Negócios Portugal, S. A.
• Caixa Banco de Investimento, S. A.
• Caixa Geral de Depósitos, S. A.
• Caixa Central de Crédito Agrícola Mútuo, C. R. L.
• Caixa Agrícola Consult – Assessoria Financeira e de Gestão, S. A.
• Citigroup Global Markets, Ltd. Credit Suisse Securities (Europe), Ltd.
• Deloitte Consultores, S. A.
• Deutsche Bank (Portugal), S. A.
• Deutsche Bank, AG. (London).
• Dresdner Kleinwort Wasserstein, Ltd. Ernest & Young, Lda.
• FINIBANCO, S. A.
• Goldman Sachs International.
• HSBC CCF.
• J. P. Morgan, P. L. C.
• J. P. Morgan Chase Bank.
• J. P. Morgan Europe, Ltd.
• KPMG & Associados – Sociedade de Revisores Oficiais de Contas, S. A.
• KPMG II – Consultores de Negócios, S. A.
• La Compagnie Financière Edmond de Rothschild Banque.
• Merril Lynch International.
• Morgan Stanley & Co., Ltd.
• Morgan Stanley & Co., International, Ltd. N. M. Rothschild & Sons, Ltd.
• Price Waterhouse Coopers – Assessoria de Gestão, Lda.
• Sociétè Générale.
• UBS AG London Branch.
• BDO Consulting, Lda.
• Grant Thornton & Associados, SROC, Lda.
• Moneris – Serviços de Gestão, S. A.
• PKF II Portugal, Lda.
• Roland Berger – Consultores de Estratégia, Lda.