Sunday, April 17, 2016

Broken the agreement in principle between CaixaBank and Dos Santos by BPI – Yahoo Finance Spain

MADRID (Reuters) – The Spanish group CaixaBank and the Angolan investor Isabel dos Santos have returned to break the agreement in principle on BPI, according to information released Sunday Portuguese entity through the national regulator.

BPI told the commission of Portuguese values ​​that the agreement published a week between Dos Santos and CaixaBank has been terminated for breach of the agreement by the multimillion ago Angolan.

a spokesman for CaixaBank consulted by Reuters declined to comment.

the deal would have involved the purchase of 18.6 percent of BPI Dos Santos by the Catalan , which already owns 44 percent of the entity but has limited its voting rights by the opposition of Dos Santos.

in return, the entrepreneur would also purchased the 50.1 percent it does not control in Angolan BFA entity and is held by BPI. For reasons of regulatory risk, BPI has to get rid of its stake in BFA.

At this point difficulties had arisen because some sources said on Monday Reuters Dos Santos claimed that BFA so listed on the stock . Lisbon

on the occasion of breaking the agreement announced on Sunday, BPI said it is in contact with the European Central Bank to “find an alternative”

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