#Banco #Portugal #authorizes #Flexdeal #reinforce #Raize
This operation will allow Flexdeal to reach or exceed the threshold of one third of voting rights.
Flexdeal received notification of non-opposition from Banco de Portugal to the acquisition of a qualified stake in Raize. This operation will allow Flexdeal to reach or exceed the threshold of one third of voting rights.
“Following the deliberation of the Bank of Portugal, Flexdeal – which was already the largest shareholder of Raize since the Public Acquisition Offer (OPA), concluded on December 30, 2020 – will, within five working days, carry out the transfer of a qualified stake in RAIZE, after which he will hold 1,655,049 shares representing 33.10% of RAIZE’s share capital”, can be read in the statement.
The completion of the transaction implies the reinforcement of Flexdeal’s commitment to achieving the strategic objectives presented in the public acquisition offer prospectus (concluded in December 2020), namely:
· Enhance the creation of value for the shareholders of Flexdeal and Raize through future partnerships that, without prejudice to the independence between both companies, may reinforce the competitive and technological position of both;
· Seek to contribute to the launch of new offers that constitute innovative solutions attractive to both investors on the platform and borrowers;
· Seek to increase Raize’s market share in the credit market, particularly among medium-sized companies.
Alberto Amaral, Chairman of the Board of Directors of Flexdeal, states that “we are naturally satisfied with the green light given by Banco de Portugal to this operation and are very excited about strengthening our stake in Raize. We are on the right track to achieve the strategic objectives defined when we entered the capital of this Company in 2020”.
