February 10, 2020 / 10:57 AM / 7 days ago

REFILE-Spain's Abanca buys 95% of Portuguese lender EuroBic

(Refiles to tweak product codes)

MADRID, Feb 10 (Reuters) - Spanish lender Abanca on Monday said it has agreed to buy 95% of the shares of Portuguese lender EuroBic.

The acquisition, which is Abanca’s fifth since 2014 and a the second in Portugal, is conditional on the completion of due diligence, Abanca said in a statement.

Abanca did not disclose the price of the transaction. The announcement comes after efforts by Angolan billionaire Isabel dos Santos to sell her 42.5% stake in EuroBic. (Reporting By Jesús Aguado, editing by Ashifa Kassam)

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