Deals
Lone Star Is Said to Make Firm Offer for Portugal’s Novo Banco
- Central Bank is trying to sell the lender for a second time
- Bank of Portugal received 4 proposals for Novo Banco in June
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Lone Star Funds plans to make a binding offer for Novo Banco SA as Portugal’s central bank tries for a second time to sell the lender, a person with knowledge of the sale said.
The Bank of Portugal seeking offers for the remnants of Banco Espirito Santo SA after saying bids submitted last year were too low. Friday is the deadline for final offers. A spokeswoman for Lone Star who asked not to be identified citing company policy declined to comment.