Finalists for the purchase of CGD’s bank in Cape Verde (BCA) must pay an initial installment

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Finalists for the purchase of CGD's bank in Cape Verde (BCA) must pay an initial installment
Finalists for the purchase of CGD's bank in Cape Verde (BCA) must pay an initial installment

Africa-Press – Cape verde. Finalist investors interested in purchasing the Cape Verdean Banco Comercial do Atlântico (BCA) from Caixa Geral de Depósitos (CGD) must pay an initial installment and provide a bank guarantee, according to the order published in Diário da República.

According to the order cited by Lusa, “ the selected proponent or proponents […] must pay an initial monetary payment” , which is three million euros, this “regardless of the price that may be presented in the binding proposal, the percentage of share capital to be acquired or the method of settlement of the price that may be defined ”.

Those interested must also deliver a bank guarantee “ in an amount corresponding to the difference between the global amount of the price offered and the amount of the initial monetary payment ”.

In September, recalls the same source, the Government had chosen three final investors to purchase Banco Comercial do Atlântico, namely Coris Holding, First Atlantic Bank and IIBGroup Holdings, who could present binding proposals.

CGD is selling 59.81% of Banco Comercial do Atlântico.

The public bank had already announced in 2019 a process of selling its stake in BCA, as part of its restructuring plan, opting to remain in the Cape Verdean market only with Banco Interatlântico, but the covid-19 pandemic ended up conditioning the entire the process, which has been dragging on, concludes Lusa.

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