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Tag Archives: Novo Banco

Bank of Portugal decides bidders for Novo Banco auction’s next step

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LISBON: Central Bank of Portugal said that it has invited 15 bidders for the second  auction of Novo Banco SA, the lender that emerged from the breakup of Banco Espirito Santo SA. Bidders must present indicative bids by March 20, the central bank said in an emailed statement Monday. A total of 17 entities had submitted an expression of interest ... Read More »

Novo Banco sends back €527 million disagreeing with Bank of Portugal

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LISBON: For any of the money invested in bonds in Grupo Espirito Santo, there is “no legal obligation” for the Novo Banco to be paid back. This is what is opposite of what Bank of Portugal boss Carlos Costa promised investors. The head of the “good bank” Eduardo Stock da Cunha delivered this bombshell today, effectively saying Carlos Costa had ... Read More »

Apollo Global may bid for Portuguese bank Novo Banco

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LISBON: Apollo Global Management Limited Liability Company (LLC), a private equity firm is considering making a bid for Portuguese lender Novo Banco SA, the bank carved out of Banco Espirito Santo SA (BES). Apollo agreed to buy insurer Tranquilidade from Novo Banco in September for an undisclosed amount, plans to submit an indication of interest for the whole bank. Novo ... Read More »