Spanish lender Caixabank has reached a deal with Angolan investor Isabel dos Santos over acquisition of Portugal’s Banco BPI.
The terms of the deal has already been communicated to the ECB and the Bank of Portugal, and would be made public in the coming days, BPI said.
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Details of the agreement have not been revealed yet.
Earlier, Caixabank, which owns a 44% stake of BPI, was in talks to snap up the 18.6% stake owned by Angolan businesswoman Isabel dos Santos in BPI.
In return, Caixabank would sell BPI’s Angolan bank Banco de Fomento Angola (BFA) to dos Santos.
Angolan telecoms company Unitel, jointly owned by dos Santos and Sonangol, already holds a 49.9% stake in BFA.
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