Regulatory Alerts2018-02-26
Instruction - Notice - Total or Partial Sale of Assets and Patrimonial Elements of Banco Privado de STP
The Central Bank of São Tomé and Príncipe (BCSTP) has opened a public tender for the total or partial sale of assets, liabilities, and off-balance sheet items of Banco Privado de São Tomé and Príncipe to preserve financial stability and protect taxpayers and depositors. Authorized financial intermediaries must submit definitive, binding proposals within 30 days of publication, adhering to Article 17 of Law 6/2015 and Articles 12 and 13 of Norm 15/2017. Following the BCSTP's selection of an acquirer, the sale must be finalized within five days, with all process documentation available for public review between March 1 and March 25.
Share