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HomeEconomyBanco de Portugal authorizes Flexdeal to promote Raize

Banco de Portugal authorizes Flexdeal to promote Raize

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This process will allow Flexdeal to reach or exceed the threshold of one-third of voting rights.

Flexdeal has received notice of non-objection from Banco de Portugal to acquire a qualifying stake in Raize. This process will allow Flexdeal to reach or exceed the threshold of one-third of voting rights.

“Following the deliberations of the Bank of Portugal, Flexdeal – which was already the largest shareholder of Raize since the Public Takeover Offer (OPA), concluded on 30 December 2020 – will execute within five business days a qualifying transfer of a share in RAIZE, after which it will own 1,655,049 shares representing 33.10% of RAIZE’s capital.”

Completion of the transaction includes strengthening Flexdeal's commitment to achieving the strategic objectives set out in the public takeover offer prospectus (concluded in December 2020), which are:

· Enhance shareholder value creation of Flexdeal and Raize through future partnerships which, without compromising the independence between the two companies, may strengthen the competitive and technological position of both;

· Striving to contribute to the launch of new offers that constitute innovative solutions that are attractive to both investors on the platform and borrowers.

· Seeking to increase Ray’s market share in the credit market, especially among medium-sized companies.

Alberto Amaral, Chairman of Flexdeal, said: “We are naturally satisfied with the green light given by the Bank of Portugal to this operation and we are very excited to strengthen our stake in Raize. We are on the right track to achieve the strategic objectives that we set when we entered the capital of this company.” In 2020.

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