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Isabel dos Santos leaves EuroBic shareholder structure

The businesswoman Isabel dos Santos will abandon the shareholder structure of EuroBic, a measure to "safeguard confidence in the institution," the bank said in a statement released Wednesday.

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Therefore, "Isabel dos Santos took the decision to leave the EuroBic shareholder structure", reads the same note, which justifies this measure as being in the context of "the diligences that have been promoted by the EuroBic Board of Directors, in order to safeguard the confidence in the institution".

In this context, "the sale of its participation has already started, which, due to the existence of interested parties, has ensured its implementation in a very short period of time, subject, according to the law, to the prior authorization of the competent authorities".

The institution also advances that, "since such exit decision is final and will take place as soon as possible, the shareholder has already and definitively waived the exercise of its voting rights".

In addition, "the non-executive directors who exercise functions in the management structure of the universe of Eng. Isabel dos Santos resigned from their positions in EuroBic with immediate effect", and the gang gave "prior notice to the Bank of Portugal" of these decisions.

Through companies linked to her, Isabel dos Santos was until now a 42.5 percent shareholder in EuroBic, holding the largest 'slice' among the holders of shares in the bank founded in 2008.

On 20 January, the institution led by Teixeira dos Santos announced that it had decided to "close the commercial relationship with entities controlled by the shareholder universe of Isabel dos Santos and people closely related to it", could be read in a statement released by the bank on that day.

The entity took the decision "following the media events aroused by the disclosure of confidential information about Eng. Isabel dos Santos - presented internationally as Luanda Leaks".

EuroBic also indicated "the public perception that this bank may not fully meet its obligations due to the fact that Isabel dos Santos is one of its reference shareholders" as a reason for cutting business relations.

The bank also said that "the payments ordered by the client Sociedade Nacional de Combustíveis de Angola (Sonangol) to Matter Business Solutions complied with the legal and regulatory procedures formally applicable" in relation to the prevention of money laundering.

According to an investigation by the International Investigative Journalism Consortium (ICIJ), Matter Business Solutions received around 100 million dollars for consulting services from Sonangol in Dubai in less than 24 hours, via EuroBic, in Lisbon, already after businesswoman Isabel dos Santos was relieved of her position as executive chairman of the oil company.

The information gathered by the ICIJ investigation also shows that Sonangol's account at Eurobic Lisboa was emptied and left a negative balance the day after the resignation of the entrepreneur.

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