Lisbon, February 17 (EFE) .- The Portuguese stock market supervisor decided today to suspend trading on the Stock Exchange Portuguese Investment Bank (BPI) only made official interest its principal shareholder, the Spanish CaixaBank, to launch a takeover bid (OPA) shares.
In a statement, the Securities and Exchange Commission of Portugal (CMVM) justified this measure in order to “allow investors to analyze” the offer of CaixaBank, firm and currently owns 44.1% of the shares of BPI.
The BPI is the fourth largest Portuguese bank by assets, valued at 42,600 million euros, and in 2014 it made a loss of 161 million euros, compared with profit of 67 million last year.
The bank’s never even trading today on the main index of the Lisbon Stock Exchange, the PSI-20, and closed yesterday at 1,043 euros.
In its bid, CaixaBank proposes paid in cash 1,329 euros per share, representing a premium of 27% over the current price.
The Spanish firm requires as a prerequisite to obtain at least 50% of the shares of the Portuguese bank and that the limitation of 20% of the voting rights of a shareholder is removed.
CaixaBank it intended to continue supporting the management team, “the prudent and effective management has succeeded in protecting BPI instability that has affected the financial system in recent years.”
The Catalan club came in the capital of BPI twenty years and is currently the largest shareholder of the bank
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