References in periodicals archive ?
The Champalimaud group consists of two major retail banks, BPSM and BTA, Credito Predial Portugues (CPP, a leading mortgage lender), Banco Chemical-Portugal (a small investment bank), and Mundial Confianca (an insurance company).
obligation in BPSM offer for the outstanding 6% minority
The new offers for BPSM and CPP have a minimum tender condition whereby BCP would need to gain acceptance of the majority of the share capital and voting rights of each for these offers to proceed.
The Champalimaud group holds a majority controlling stake in BTA, 45% through a stake held by BPSM and 5% through Compahnia de Seguros Mundial Confianca S.
BCP intends to capitalise on the potential offered by an acquisition of BPSM through the following:
The acquisition of BPSM would enhance our market position and deliver significant economic benefits from the integration of the company into the BCP group.
We remain firmly committed to move further towards this goal, namely through the acquisition of BPSM.
Integrating the financial services operations of the Jose de Mello Group - together with the acquisition of BPSM - will allow BCP to become the 4th largest financial group in the Iberian Peninsula, ranked by total assets.
The integration of BPSM within our Group will allow BCP to enhance its position in the domestic market, as well as to gain scale in Europe as a strong foundation for further growth.
We confirm at this moment all statements made during the bidding process, in particular that the proposal we presented reflected a serious comprehensive valuation of BPSM, and that the price offered was the correct one, taking BCP's share value into consideration," commented Jorge Jardim Goncalves, BCP's Chairman and CEO.
As the last of the leading Portuguese banks to be privatised, BPSM has made real progress under its new shareholders.