Banco Comercial Portugues Sells Stake in Banco Santander Central Hispano and Purchases Own Stock.LISBON--(BUSINESS WIRE)--May 18, 1999-- Banco Comercial Portugues (BCP BCP Best Current Practice(s) BCP Business Continuity Planning BCP Business Continuity Plan BCP Book of Common Prayer BCP Banco Comercial Português BCP Bureau of Consumer Protection (US Federal Trade Commission) , NYSE NYSE See: New York Stock Exchange :BPC BPC British Potato Council BPC Brewton-Parker College (Mt Vernon, GA) BPC Bible Presbyterian Church BPC Bangladesh Petroleum Corporation (Chittagong, Bangladesh) BPC British Pharmaceutical Codex ) announced today that, as a result of the break-up of the alliance with Banco Santander Central Hispano (BSCH BSCh abbr. Bachelor of Science in Chemistry ), it has sold 49,760,040 shares corresponding to a 2.71% stake in BSCH, at a price of 20.54 Euros per share, leading to the realization of a net capital gain of PTE PTE The ISO 4217 currency code for the Portugese Escudo. 45.8 billion. As of the same date, BCP has placed a block of 27,137,861 own shares, previously held by BSCH, at a price of 26.63 Euros per share. Out of this block, BCP has purchased 19,000,000 own shares, considering this to be the best immediate investment for the capital generated by this transaction. It should also be noted that Achmea, a Dutch financial group and a strategic partner of BCP in Eureko, has purchased 6,000,000 shares, corresponding to a 3% holding in BCP. This transaction is a clear sign of the process of strengthening of co-operation ties in progress, following several months of discussions, with special focus being given to the identification of projects for joint development. The remainder of BSCH's shareholding in BCP, equivalent to approximately 1% of BCP's share capital, was placed among several investors. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion