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CaixaBank, dos Santos reach deal on Banco BPI

and Angolanbusinesswoman Isabel dos Santos reached a deal that is expected to see the Spanish lender acquirethe latter's 18.6% stake in BancoBPI SA.

In astatement dated April 10, Banco BPI said CaixaBank and Santoro Finance -Prestação de Serviços SA, which owns the stake in the Portuguese bank on behalfof dos Santos, successfully finalized negotiations aimed at finding a solutionto the ECBrequirement that Banco BPI limit its large exposures to Angola.

Thebank said the agreement has been communicated to the ECB and the , and should bemade public in the coming days.

Thedeal involves CaixaBank, which owns about 44% of Banco BPI, acquiring theAngolan businesswoman's stake in the bank, Reuters reported the same day,citing "sources close to the process."

Thesources added that the final agreementalso involves Banco BPI unit Bancode Fomento Angola SA's shares being listed on Euronext Lisbon.Also, CaixaBank will have to make a full takeover bid for the remainder ofBanco BPI's shares.

Accordingto S&P Global Market Intelligence data, BFA is 50.08%-owned by Banco BPIand 49.90%-owned by Unitel, an Angolan telecommunications firm dos Santosjointly controls with state oil company Sonangol.