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Portugal to flesh out terms of Novo Banco sale with Lone Star

  • Region:

    Portugal, China

  • Sector:

    Banks

  • Deal Size:

  • Buy Side Company:

    Lone Star Funds
  • Sell Side Company:

    Novo Banco
  • Target Company:

The Bank of Portugal will hold a final round of exclusive negotiations with U.S. private equity firm Lone Star as it seeks to flesh out the terms of the potential sale of state-rescued lender Novo Banco, the central bank said on Monday. The central bank last month picked Lone Star ahead of other prospective buyers including China’s Minsheng Financial Holding and U.S. fund Apollo. It said then that Lone Star had set conditions that could have an impact on public accounts, which the state sought to minimise via further talks. Portugal faces an August 2017 deadline to sell the bank.

Tags:

PE Deals,Bank of Portugal,Lone Star,Private Equity Deals,Novo Banco,Private Equity,Minsheng Financial Holding,Apollo