In the latest of a series of cross-border merger dramas, France’s BPCE is acquiring a 75% stake in Portugal’s Novo Banco from US private equity firm Lone Star. The offer values the lender at €6.4bn, ...

LISBON (Reuters) -U.S. private equity fund Lone Star has decided to sell its 75% stake in Novo Banco to French banking group BPCE in a deal that would value Portugal's fourth-largest lender at around ...

Novo Banco, Portugal’s fourth-biggest lender, posted its first profit in 2021 and its net interest income climbed as central banks raised interest rates.

LISBON (Reuters) -Novo Banco, Portugal’s fourth-largest lender, reported a record net profit of 744.6 million euros ($804 million) on Thursday, ahead of a planned initial public offering, and ...

Novo Banco, Portugal's fourth largest bank, was created in 2014 from the Portuguese government's bailout of collapsed private bank Banco Espirito Santo.

Novo Banco declined to comment. A request for comment has been emailed to Lone Star. Although the top five Portuguese banks control more than 80% of the country's banking assets, analysts see room for ...