Caixabank Looks at Novo Banco Despite Opposition From the Portuguese Government to the Purchase

Caixabank analyses, from Deloitte's hand, the accounts and risks of the Portuguese Novo Banco in the face of a hypothetical bid, in the face of the will of the main shareholder of the Portuguese entity, Lone Star, to get rid of its 75% in the capital. Through the opposition of the Portuguese government, Caixabank would also take into account to make its decision; this is not a baladí since the State of that country is a shareholder with a 25% st…

The Spanish bank, which says the GDPI, is preparing for air with an offer by the Portuguese financial institution, despite the opposition of the Government which alerts to the weight of the pás sector near Portugal.

Novo Banco was born in August 2014 after the intervention of the Banco de Portugal to rescue the Banco Espírito Santo (BES), which was then one of the largest and most emblematic private banks in the country. In October 2017, 75% of Novo Banco’s capital was sold to the American Lone Star Funds, specialized in assets in difficulty, in exchange for an investment of 1 billion euros. The remaining 25% is controlled by the Portuguese government. Now,…