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Abstract(s)
O objeto do nosso estudo é o conflito de interesses entre acionistas de sociedades, analisando, mais concretamente o caso paradigmático do Banco Português de Investimento (BPI). Neste caso, o BPI viu-se confrontado com a necessidade de proceder a uma reestruturação empresarial, alienando a sua participação no Banco de Fomento de Angola (BFA), que lhe foi imposta pelos reguladores: Mecanismo Único de Supervisão (MUS), Banco de Portugal (BP) e Comissão do Mercado de Valores Mobiliários (CMVM). Quanto à forma de operar em concreto essa alienação surgiram interesses conflituantes dos acionistas, sendo patentes conflitos entre os próprios acionistas maioritários, entre estes e os acionistas não institucionais, e entre acionistas e o interesse da própria sociedade. Descrevemos a forma como ocorreram e se desenvolveram de facto esses conflitos, analisamos as soluções que foram encontradas, perspetivamos as soluções que poderiam ter sido escolhidas e verificamos qual o impacto das soluções seguidas, bem como das demais que poderiam ter sido acolhidas.
The object of our study is the conflict of interest between shareholders of companies, analyzing more specifically the paradigmatic case of Banco Português de Investimento (BPI). In this case, BPI was faced with the need to carry out a business restructuring, aligning its participation in the BFA, which was imposed on it by the regulators: Single Supervision Mechanism (MUS), Banco de Fomento de Angola and Banco de Portugal (BP) and the Securities Market Commission (CMVM). As to the way in which this sale actually occurred, conflicting interests of shareholders arose, as well as conflicts between the majority shareholders themselves, between them and non-institutional shareholders, and between shareholders and the company's own interest. We describe how these conflicts took place and were actually developed, analyzed the solutions that were found, looked at the solutions that could have been chosen and verified the impact of the solutions followed, as well as others that could have been accepted.
The object of our study is the conflict of interest between shareholders of companies, analyzing more specifically the paradigmatic case of Banco Português de Investimento (BPI). In this case, BPI was faced with the need to carry out a business restructuring, aligning its participation in the BFA, which was imposed on it by the regulators: Single Supervision Mechanism (MUS), Banco de Fomento de Angola and Banco de Portugal (BP) and the Securities Market Commission (CMVM). As to the way in which this sale actually occurred, conflicting interests of shareholders arose, as well as conflicts between the majority shareholders themselves, between them and non-institutional shareholders, and between shareholders and the company's own interest. We describe how these conflicts took place and were actually developed, analyzed the solutions that were found, looked at the solutions that could have been chosen and verified the impact of the solutions followed, as well as others that could have been accepted.
Description
Keywords
Atividade bancária Conflito de interesses entre acionistas Valor do investimento Reestruturação empresarial Reestruturações de portfólio Reorganização de ativos Banking Conflict of interests between shareholders Investment value Corporate restructuring Portfolio restructuring Reorganization of assets