Bank of Portugal selects preferred buyer for ‘good bank’
Novo Banco sale process has met with difficulties
Portugal's central bank has named a US-based financial firm its preferred bidder for Novo Banco, the 'good bank' created following the failure of Banco Espirito Santo (BES) in August 2014.
The Bank of Portugal invited private equity firm Lone Star to take part in further negotiations to acquire Novo Banco, according to a statement released in Portuguese on January 4. It said that out of several bidders for Novo Banco, the US firm was best placed to strengthen confidence in the bank and in
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