January 22, 2020 / 7:45 PM / a month ago

Angola's dos Santos to sell Eurobic stake, decision is 'final'

FILE PHOTO: Isabel Dos Santos, daughter of Angolan former President and Africa's richest woman, sits for a portrait during a Reuters interview in London, Britain, January 9, 2020. Picture taken January 9, 2020. REUTERS/Toby Melville/File Photo

LISBON (Reuters) - Portugal’s small unlisted bank Eurobic said on Wednesday that its main shareholder, Angolan billionaire former first daughter Isabel dos Santos, decided to withdraw from the bank’s shareholding structure and sell her stake.

In a statement sent to Reuters, Eurobic said the selling process of the 42.5% stake had already started, adding that dos Santos’ decision is “final” and her exit will take place “as soon as possible”.

Portuguese news agency Lusa earlier quoted Angola’s public prosecutor as saying dos Santos had been named a formal suspect over alleged mismanagement and misappropriation of funds during her time as chairwoman of state oil company Sonangol.

Reporting by Sergio Goncalves, writing by Catarina Demony, Editing by Andrei Khalip and Chizu Nomiyama

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