This value can be increased by variables related to the bank’s future performance and may reach €35 million (MOP 306 million), as reported by the Portuguese online newspaper ECO.
The completion of the deal is pending authorisation from the European Central Bank (ECB), which will decide based on the opinion of the Bank of Portugal.
The Portuguese press had already announced that the terms of the deal were closed, and as a sign of this, the Hong Kong Stock Exchange-listed group had already paid a deposit of €1 million (MOP 8.7 million), which could be returned if the transaction does not materialize.
The agreement also includes the purchase of BPG’s subordinated debt (with a value of €3 million) and the launch of an offer to acquire 1.09 percent of minority shareholders, including the Stanley Ho Foundation.
The bank’s own capital amounted to €18.8 million (MOP 164.5 million) as of last March.
Read more at Macau Business
