BCP =Basic Control Program 基本控制程序
- It inherited the stakes after the Procordia group - jointly controlled by Volvo and the state - was broken up last year. The group committed itself to bidding for the outstanding shares in BCP last October before the collapse of the Renault deal.
- But some analysts see the takeover bid partly as a defensive move that would create a large group over which it would be much harder for BCH to gain control. Lisbon also has to consider whether BCP's proposed purchase would distort competition.
- BCP said it might have increased its bid if it had been allowed to make a more detailed examination of the bank's liabilities. The remaining 20 per cent of BPSM is to be sold later to employees and small investors.
- Selling BCP will be easier for Volvo when it has full control.
- Provided BCP's capital was not weakened by paying 2.4 times net asset value for BPA, it would form the most ambitious and tightly-managed Portuguese bank. Yet the outcome of the bid is not clear, even if sanctioned by the government.
- The Affarsvarlden general index closed down 11.5 at 1,385.5. Ericsson shed SKr17 to SKr440 while Volvo slipped SKr16 to SKr413 following its announcement of details of its buy-out for BCP.
- He recently helped broker the swift sale of BCCI's Banque de Commerce & de Placement, or BCP, to the Turkish group Cukurova.
- 'We want to grab a quasi-virgin customer base,' says one BCP senior manager.
- A stronger performance at BCP might have forced Volvo to improve its offer.