The Angolan advanced this Monday with an action against Banco de Portugal, taking into account its participation in EuroBic. According to the Portuguese newspaper Eco, the administrative action was filed at the Administrative Court of the Lisbon Circuit.
It is recalled that Isabel dos Santos holds a 42.5 percent stake in EuroBic through two companies: Santoro Financial (25 percent) and Finisantoro Holding (17.5 percent). Both the bank and these two entities have been identified as counter-parties to the lawsuit.
This action comes after the businesswoman filed a precautionary suit against the supervisor, in October, with the same interested parties. The same newspaper claims that the businesswoman questions, through this precautionary action, the administrative process adopted to inhibit her voting rights at the bank.
Isabel dos Santos has seen her participation in EuroBic arrested by the Portuguese court since March, following a judicial investigation initiated in Angola on suspicion of embezzlement and mismanagement at Sonangol.
Following these events, and after pressure from Banco de Portugal, the businesswoman will have accepted to give up her voting rights at the bank, putting her stake for sale.
After a failed negotiation with the Abanca Spaniards, the businesswoman will have reached an agreement with the Libyan Roger Tamraz, in order to divest her stake in EuroBic. However, in order to complete the purchase, the entrepreneur needs to have the majority of the bank's capital, not yet having an agreement with other shareholders. The process will also be conditioned by the authorization of the supervisors. In this deal, Isabel dos Santos' position will have been valued at 142.8 million dollars.
