US EditionBPCE to Acquire Novo Banco for USD 7.4 Billion
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Lone Star has saved the game at the end and out of the ex-BES with almost 5,000 miles of gross profits. The contributors can now recover close to having one of what they did, but s in 2046 - or at then - receive the total.
At the same time, the agency has maintained the rating of its long-term deposits in 'A2'; the base credit assessment (BCA) and the bank's adjusted BCA in 'baa2'; the ratings of the unsecured senior subordinate debt programme (MTN) in '(P)Baa2'. On the other hand, Moody's has reiterated the subordinated debt ratings and the subordinated MTN programme in 'Baa3/(P)Baa3'; the long- and short-term counterparty risk assessments (CR) in 'A2(cr)/Prime-1…
Novo Banco will have another owner. Lone Star reached an agreement with the French banking group BPCE to sell the Portuguese banking institution for an amount equivalent to a valuation of 6,400 million euros. Notícias ao Minuto prepared an explainer, which answers five questions about this business. Stay up to date: 1 - What is known about the business? Lone Star said that it “signed a Memorandum of Understanding for the sale of its shareholding…
BPCE seals $7.4bn deal to acquire Portugal’s Novo Banco
Groupe BPCE has entered a deal to acquire Portuguese lender Novo Banco, valuing the business at €6.4bn ($7.4bn). The deal will see the French bank purchasing a 75% stake in Novo Banco from Lone Star. In a statement, the US private equity firm said: “Nani Holdings S.à. r.l., an affiliate of Lone Star Funds (“Lone Star”), today announced that it has signed a Memorandum of Understanding for the sale of Novo Banco, S.A.” The transaction is expected …
“We are confident and optimistic about the future of the New Bank. We believe that this new phase can bring stability and new growth opportunities, since we are going to associate ourselves with the fourth largest European banking group,” refers to the Communication today. Lone Star agreed with the French banking group BPCE for the sale of its shareholding position in the New Bank for an amount equivalent to a value of EUR 6,400 million for 100%…
Lone Star agreed with the French banking group BPCE for the sale of its shareholding position in the New Bank
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