Euler Hermes, world leader in credit insurance, already holds 8.5% in Cosec, but is interested in increasing its holding with the aim of dominating the Portuguese market, where Cosec currently holds a 65% share of credit insurance business.
Euler Hermes is 59.3 % owned by Allianz, while Allianz Portugal holds 9% of Banco BPI.
Miguel Gomes da Costa, chairman of Cosec, said that talks have not been completed but BPI will retain a majority stake.
Source: AFX Europe
