A subsidiary Sonaecom will buy the New Bank units in three venture capital funds: the Holy Venture Capital Fund Spirit Ventures Innovation and Internationalization (ESV I + I); FCR -. Espírito Santo Ventures II (ESV II) and the Holy Venture Capital Fund Spirit Ventures III (ESV III)
In a statement the bridge bank that emerged from the resolution of BES announced to that ” New Bank entered into a purchase and sale agreement with a group of investors led by the company Sonae Investment Management – Software and Technology for the sale of units held in the Venture Capital Fund Espirito Santo Ventures II, Venture Capital Fund Espirito Santo Ventures III and Venture capital Fund Santo Espírito Santo Ventures Innovation and Internationalization, which also includes the sale of the entire share capital of Espirito Santo Ventures. – Venture capital Company which will be controlled by the management team “
the completion of the transaction is dependent on the necessary approvals, including from the Bank of Portugal.
the completion of the transaction pursuant now agreed will have a marginally negative impact on the common capital ratio equity Tier I of the New Bank.
this transaction is another step in the process of divesting non-strategic assets of the New Bank, continuing this its strategy of focusing on banking business.
yesterday the New Bank announced the sale of NB Asia.
“the IM Sonae, focused on investing in technology-based companies in the vertical Retail and Telecommunications, has an active management strategy of its portfolio, with order to consolidate its reference investor position internationally, “said Sonaecom in a statement.
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