Lone Star decide your exit plan New Bank. The American fund is selecting advisors to explore a possible sale with an Initial Public Offering (IPO), that is, an IPO of the financial entity, according to Bloomberg.
American news agency adds that the largest shareholder of the financial institution has hired Deutsche Bank to carry out this missionwhich also contemplates a possible private sale to a competitor that deepens the banking concentration.
Novobanco and the Resolution Fund announced a month ago the early termination of the contingent capital agreement (CCA). This pact allows the bank to pay 1.3 billion euros in dividends after having accumulated positive results in the last three years of interest rate increases.
Lone Star is the majority owner of Novo Banco, with 75% of the stake since it injected 1,000 million into the financial institution in 2017.. The remaining 25% is held by the Resolution Fund and the General Directorate of the Treasury and Finance in Portugal.
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