Caixabank and dos Santos close to agreement on BPI: source

March 17, 2016 10:32 AM

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Caixabank and dos Santos close to agreement on BPI: source

LISBON Caixabank and Angolan investor Isabel dos Santos are converging towards a deal for the Spanish bank to buy dos Santos' stake in Portuguese bank Banco BPI (BBPI.LS) and have a draft agreement ready, a source with knowledge of the talks said.

The blueprint agreement, which is not yet finalised, would mean that Caixabank buys dos Santos' 18.6 percent stake in BPI while she would buy a stake in BPI's Angolan unit BFA through Unitel, the Angolan telecoms firm she controls.

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