Lone Star receives offers from BPCE and CaixaBank
The US equity fund and asset manager Lone Star is said to have received two offers for Novobanco – one from the French group BPCE (Banque Populaire, Caisse d’Epargne, and Natixis [...]
Lone Star negotiating with BPCE and CaixaBank as it prepares IPO
The US equity fund Lone Star is anxious to resolve the sale or floatation of Novobanco as quickly as possible and is negotiating its possible sale as well as proceeding with preparations for a [...]
Novobanco reduces capital and distributes €1.1Bn for shareholders
Novobanco is to reduce its capital by €1.1Bn and will pay it out as dividends to its shareholders that will receive €2.2 per share with the main shareholder Lone Star (75%) netting €825 million. [...]
Lone Star sells estate held by Novobanco at knock-down price
An estate near Sessimbra in Portugal, which was in the hands of Novobanco, was sold at a knock-down price to the wife of one of the former managers of US firm Lone Star which holds a 75% stake in [...]
Governor of the Bank of Portugal warns of “systemic effect” if CGD buys Novobanco
If State-owned bank Caixa Geral de Depósitos buys Novobanco it could have systemic consequences for Portugal’s banking and financial sector warns the Governor of the Bank of Portugal, Mário [...]
Government encourages CGD to put in a bid for Novobanco
Portugal’s Novobanco, in which the State has a minority but substantial shareholding, is encouraging a bid from State-owned bank Caixa Geral de Depósitos in the forthcoming sale or floatation. [...]
Lone Star sets ball rolling for Novobanco selloff or floatation
The US asset management firm Lone Star that holds the controlling share in Portugal’s Novobanco is said to be “selecting advisors” to explore a possible sale or Initial Public Offer (IPO). [...]
