Lone Star: no discussions to sell Novobanco

 In Banks, Funds, News, Venture Capital

The US venture capital fund Lone Star says it is not in discussions with other banks to sell Novobanco.

The reaction was made after a Spanish newspaper had reported that it is in informal negotiations with Caixabank to sound out the bank’s possible interest in eventually acquiring the Portuguese bank.
“Lone Star is not at present in discussions with third parties as to the possible sale of Novobanco” it stated in a statement quoted by Bloomberg.
Lone Star purchased 75% of Novobanco in 2017. The other 25% is in the hands of the Resolution Fund.