Abreu Advogados advises Caixa Geral de Depósitos on the sale of a majority stake in Banco Comercial do Atlântico
Abreu Advogados advised Caixa Geral de Depósitos on the sale of its majority stake in Banco Comercial do Atlântico (BCA), in Cabo Verde, in a transaction valued at EUR 82 million.
The stake sold, corresponding to 59.81% of BCA’s share capital, was acquired by Coris Holding S.A., a financial group with a significant presence in the West African banking sector. The transaction was completed in the city of Praia, Cabo Verde.
Abreu Advogados’ legal advice covered the full scope of the transaction, including support to the privatisation process in Portugal, the organisation of the competitive sale process, the conduct of the vendor legal due diligence, the drafting and negotiation of the contractual documentation, support to the award decision, advice on obtaining regulatory approvals from Banco de Cabo Verde and the General Audit Office of the Securities Market (Cabo Verde), market disclosures, as well as assistance with the signing of the Sales and Purchase Agreement (SPA) and the closing.
Abreu Advogados worked in coordination with Caixa Banco de Investimento, which acted as financial adviser to Caixa Geral de Depósitos.
The transaction was led by José Maria Corrêa de Sampaio, with a multidisciplinary team comprising Hugo Teixeira, Pedro Pais de Almeida, Ricardo Henriques, Mafalda Teixeira de Abreu, Jorge Morais, José Maria Alves Pereira, Francisco Estácio and Rafael Teopisto.
