Sonangol confirms to BCP that it can sell if it makes sense to the bank and shareholders
The BCP has verified with Sonangol's management that the Angolan oil company may analyze a possible divestment in the Portuguese bank or a merger process if it makes sense.
BCP confirmed to Sonangol’s management that the Angolan oil company may analyze a possible divestment in the Portuguese bank or a merger process if it makes sense for all parties.
“BCP confirmed today with the management of Sonangol that although the latter maintains its strategy in relation to the Bank it is monitoring possible bank consolidation movements in the euro area and in Portugal, and that, as an investor, it will always analyse, in close co-operation with the Bank and its other strategic shareholders,” said the bank led by Miguel Maya in a statement sent to the market.
This is the bank’s reaction after Sonangol’s CEO admitted that the oil company could sell its position in the bank or analyze merger processes with other banks. “If there is a good opportunity for divestment, we will evaluate it and make the recommendations that seem the most appropriate,” Sebastião Gaspar Martins said in an interview with Reuters.
He also said that “Sonangol is monitoring the possible bank consolidation movements in Portugal” and that, “should any opportunity arise, the matter will be evaluated.”
The Chinese at Fosun are the bank’s largest shareholder, with a 29.01% stake. Sonangol holds 19.45%, while BlackRock and the EDP Group, the other two qualified shareholders, hold positions of 2.99% and 2.06%, respectively.
