Monday, April 18, 2016

The agreement between BPI and CaixaBank rips apart – Pysn People and Society News

News of Spain

No agreement because CaixaBank can keep the Portuguese Investment Bank (BPI) . The Portuguese company announced Sunday that the agreement published a week ago between the Angolan multimillion Isabel Dos Santos , which controls 18,6% of Portuguese bank , and the entity chaired by Isidro Fainé is “void” because dos Santos would have breached the agreement.

This Saturday the entity Santoro Finance , controlled by Dos Santos, has already announced that there were still outstanding issues to finiquitara sale in CaixaBank its percentage of BPI. This Sunday the bank announced the annulment of the agreement reached last week that Dos Santos had decided alter one of the points of the agreement “that severely disfiguring the agreed solution”. however, the fifth largest bank in Portugal does not detail what this alteration.

“Over the last year, were carried out every effort to obtain a solution to the situation of default by the limit of large risks. therefore, the BPI bank is in contact with the European Central Bank to find an alternative, “the BIS said in a statement.

The Portuguese bank needs to divest its 50.01% stake in the Banco de Fomento de Angola (BFA) to demand the Community authorities, who estimate that the system of banking supervision African country is equivalent to Europe.

The two major shareholders of BPI, the Spanish CaixaBank, with 44.1% of capital and society Santoro Isabel Dos Santos, with 18.6% – have been intensely looking for a solution in recent weeks.

source Ara.cat

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