Wednesday, October 8, 2014

BCP agrees sale of fund manager by 15.75 million – TVI24

BCP agrees sale of fund manager by 15.75 million – TVI24

The BCP has reached agreement with the Spanish group IDMC for the sale of Millennium BCP Asset Management (Management Company of Investment Funds) for € 15.75 million.

In a statement sent to the Committee on Markets and Securities, the bank says the operation is subject to approval of supervisory authorities, and has an estimated positive impact on consolidated capital ratios of BCP, ie an increase in the common equity tier ratio 1 of 3 bp according to the criteria phased-in basis points and 4 basis Implemented fully.

“The BCP implements a step further ahead of schedule in meeting the agreement signed with the Directorate General of Competition of the European Commission and the Portuguese authorities regarding the restructuring of the BCP plan, in line with its strategic plan, “the statement said.

The IDMC Group, with over 30 years of activity, is present in Portugal through its subsidiary Intermoney Valores, SV, SA, Branch in Portugal.

Consisting of 11 companies, the IDMC Group develops its activity in the areas of Operations, Consulting, Management and intermediation in financial markets and energy.

In Financial Asset Management, will become the second largest independent group in the Iberian Peninsula, with about € 2 billion under management in mutual funds and portfolio management and over 82 billion euros in securitization funds.

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