Banco Comercial Portugues S.A.
29 December 1999
Banco Comercial Portugues and SIVA SGPS purchase Interbanco, S.A.
Banco Comercial Portugues (BCP) and SIVA SGPS announced today the closing of a
partnership agreement, which includes the acquisition of Interbanco, S.A.
(Interbanco), by the two parties in equal amounts, subject to the non-oposition
of Bank of Portugal.
Interbanco is an institution specialized in car financing to individual and
corporate clients. Launched in 1997, Interbanco reported as at 30 September,
1999, Total Assets (inclusive of securitized receivables) and Net Worth of 85.8
e 8.1 billion Escudos, respectively.
Through the signing of this partnership and the purchase of the equal stakes in
Interbanco, BCP and SIVA are confident in the development of this specialized
finance platform, to be build upon the partners's competences in the management
and distribution of car industry products and related financial services.
Lisbon, 29 December 1999