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Lone Star agrees to sell Portugal's Novo Banco to French BPCE for $7.39 billion.

deals & business :: 2025-06-13 :: source - reuters

By Reuters

The Novo Banco logo is seen on the facede of its headquarters in Lisbon, Portugal. REUTERS

(Reuters) -U.S. private equity fund Lone Star has agreed to sell its 75% stake in Novo Banco to French banking group BPCE in a deal that evaluates Portugal's fourth-largest lender at 6.4 billion euros ($7.39 billion), BPCE said on Friday.

This week on Reuters

The French bank's statement confirmed a report by Portuguese economic news outlet ECO on Thursday though the price tag is slightly lower than the around 7 billion euros valuation mentioned by ECO.

The deal should be completed during the first half of 2026, BPCE said.

($1 = 0.8660 euros)

(Reporting by Sergio Goncalves in Lisbon and Mathieu Rosemain in Paris; editing by Inti Landauro)


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