NOSSA Seguros

completed

The project consists of an equity participation of up to $1 million in NOSSA – Nova Sociedade de Seguros de Angola, S.A.R.L. (Nossa or the company), an insurance company to be incorporated in Angola. This equity participation will represent 16.7% of the total share capital of Nossa. The sponsors of the project, Real Seguros, Real Vida Seguros, the Banco Português de Negócios (“BPN”) Group, BPN’s holding company Sociedade Lusa de Negócios (“SLN”) in Portugal and Banco Africano de Investimentos in Angola have agreed to an IFC put-option as an exit mechanism related to the IFC equity investment. The terms of the put option are being negotiated and are taking into consideration that Nossa will have its shares denominated in US$. The put will have a guaranteed return with an equity upside.