Banco Comercial Portugues and SIVA SGPS purchase Interbanco, S.A.Business Editors LISBON, Portugal--(BUSINESS WIRE)--Dec. 29, 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 ) and SIVA SGPS SGPS Sociedade Gestora de Participações Sociais announced today the closing of a partnership agreement, which includes the acquisition of Interbanco, S.A. (Interbanco), by the two parties in equal amounts, subject to the non-opposition of Bank of Portugal. Launched in 1997, Interbanco specializes in car financing to individual and corporate clients. As of September 30, 1999, Interbanco reported total assets (inclusive of securitized receivables) and net worth of 85.8 and 8.1 billion Escudos, respectively. Through the signing of this partnership and the purchase of the equal stakes in Interbanco, BCP and SIVA are confident in the development of this specialized finance platform, to be built upon the partners' competences in the management and distribution of car industry products and related financial services. |
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