The pension fund of Banco de Moçambique wants to sell 20% to 40% of Moza Banco SA after it injects further capital into the lender, "four people familiar with the matter" told Bloomberg News.
While talks are still at an early stage and may not result in a deal, the potential sale could come after Mozo Banco's planned 3.5 billion Mozambican meticais rights issue in December, in which the pension fund will be the sole participant, according to the sources.
The pension fund already owns 80% of the lender, with one of the sources noting that Mozambique's central bank sees its stake as a burden and wants to sell the lender to avoid a conflict of interest, Bloomberg added in its Nov. 21 report.
Other investors in Moza Banco, such as Portuguese-based Novo Banco SA and Moçambique Capitais SA, will not exercise their rights in the share sale, according to the report.
Novo Banco África SGPS SA and Moçambique Capitais hold stakes of 10.13% and 10.54% in Moza Banco, respectively, according to S&P Global Market Intelligence data.
On Nov. 21, US$1 was equivalent to 61.25 Mozambican meticais.