In a development poised to reshape the Portuguese financial sector, U.S.-based private equity firm Lone Star Funds has reportedly agreed to sell its 75% stake in Novo Banco to France’s Groupe BPCE, one of the largest banking groups in Europe. According to the Portuguese financial news outlet ECO, the transaction would value Novo Banco—Portugal's fourth-largest lender—at approximately €7 billion (≈ $8.14 billion USD).
Novo Banco SA has reached a defining moment following shareholder approval of essential actions linked to a possible initial public offering. The recent annual meeting’s agenda included authorizing the introduction of bank shares to the stock exchange and revising the institution’s bylaws. These initiatives lay the legal and organizational foundation for a stock market entry, positioning Novo Banco as a significant contender for the first major Portuguese IPO in four years.
According to information from well-informed sources, Spanish lender CaixaBank SA $CABK.MC is actively interested in the potential acquisition of Portuguese bank Novo Banco SA. The latter is currently under the control of investment funds Lone Star, which are preparing the bank for its initial public offering (IPO).
Novo Banco SA, a Portuguese lender whose controlling stake is owned by investment firm Lone Star, is actively preparing for a potential initial public offering (IPO). However, specific timelines for this event have not yet been established. This news has attracted the attention of analysts and investors, as an IPO could represent a significant step in the bank's development and enhance its market capitalization.
Novo Banco, a Portuguese lender controlled by the investment firm Lone Star, has announced its plans for an initial public offering (IPO). According to the bank's CEO, Mark Bourke, if everything goes well, the IPO could take place in either the second or third quarter of this year.
Recent developments indicate that the American private investment firm Lone Star plans to sell approximately 25-30% of Novo Banco’s shares via an initial public offering (IPO) rather than pursuing a full sale. The Portuguese Ministry of Finance, through Minister Joaquim Miranda Sarmiento, confirmed this strategy, emphasizing that this approach capitalizes on the benefits of a public offering.
