BPI Exits Angola With BFA Stake Sale
Caixabanks Banco BPI agreed to sell its 33.35 percent stake in Banco de Fomento de Angola to Congolian Financial for 388.5 million euros. The transaction marks the lenders complete exit from the Angolan market and yields a positive equity impact.
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CAIXABANK SA's Portuguese unit Banco BPI agreed to sell its 33.35% stake in Banco de Fomento de Angola for €388.5 million ($451.71 million) to Congolian Financial, exiting the Angola market. The transaction concludes a years-long divestment effort by the Portugal-based lender following regulatory pressure. The sale will boost BPI's accounting shareholders' equity by €9 million from the fixed tranches alone.
