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France’s BPCE has agreed a 6.4 billion euros ($7.39 billion) deal to acquire Portugal's Novo Banco, including a 75% stake held by U.S. private equity firm Lone Star, BPCE and Lone Star said on ...
Novo Banco spun out of the collapsed Banco Espirito Santo (BES) in 2014 after a state bailout. US investor Lone Star, which bought its stake in Novo Banco in 2017, is now offloading it.
As of March, Novo Banco had 30 billion euros in deposits and 28.5 billion euros in net loans, equivalent to a 9% market share in Portugal. It has almost 300 bank branches and more than 4,200 ...
French banking group BPCE has agreed to buy US private equity fund Lone Star's 75% stake in Novo Banco in a deal that values Portugal's fourth-largest bank at €6.4 billion, following a wave of ...
Groupe BPCE agreed to buy Novo Banco from majority owner Lone Star in the latest cross-border European banking deal, which values the Portuguese lender at 6.4 billion euros ($7.41 billion).
Novo Banco is Portugal’s fourth-biggest lender and has about €17 billion in corporate loans, €10 billion in mortgage loans and €2 billion in personal loans, according to a May 6 presentation.
Banking’s Mediterranean Deal Flurry Widens With Banco Novo Sale The wave of bank acquisitions washing over Southern Europe has reached Portugal.
Novo Banco, Portugal’s fourth-largest lender, will change ownership once the transaction is completed. According to BPCE, the deal is expected to be finalized during the first half of 2026.
In the latest of a series of cross-border merger dramas, France’s BPCE is acquiring a 75% stake in Portugal’s Novo Banco from US private equity firm Lone Star.
Novo Banco is a large Portuguese financial bank with headquarters in Lisbon (Portugal). Since 2014, the bank has been under the supervision of the European Central Bank in accordance with banking ...