Montepio Valor is a Collective Investment Organisation Management Company and is now being sold to Associação Mutualista Montepio Geral, Banco Montepio's largest shareholder, for €3.73 million.
Montepio bank informed the Portuguese Securities Market Commission (CMVM) on Thursday that it had sold the entire capital of Montepio Valor to Associação Mutualista Montepio Geral for a total of €3.7 million. The impact on the bank’s consolidated results and capital ratios is “null”, according to what was communicated to the market.
“Caixa Económica Montepio Geral, caixa económica bancária, S.A. (“Banco Montepio”) informs that on 30 December 2021 its subsidiary Montepio Holding SGPS, S.A. sold 310,000 (three hundred and ten thousand) ordinary registered shares, representing 100% (one hundred per cent) of the share capital and voting rights of Montepio Valor – Sociedade Gestora de Organismos de Investimento Coletivo, S.A. (“Montepio Valor”),” announced the bank to CMVM.
Montepio Valor is a Collective Investment Organisation Management Company (SGOIC), managing real estate investment funds, which is now being sold to Associação Mutualista Montepio Geral, Banco Montepio’s largest shareholder, for €3.73 million.
This change of hands within the same group has no impact, according to the bank, on results and capital ratios: “The estimated impact of the sale of Montepio Valor, 100% controlled through Montepio Holding SGPS, S.A., on Banco Montepio’s consolidated results and capital ratios is null,” it said.
In the same statement, Banco Montepio also explained that “the completion of this operation reflects Banco Montepio’s strategy of simplifying the Group’s corporate structure, maintaining its focus on the domestic banking business.”