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Caixabank formally offers to buy Novo Banco, despite Portuguese government's 'displeasure'
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Caixabank formally offers to buy Novo Banco, despite Portuguese government's 'displeasure'
The Corner Alphavalue / Divacons | US fund Lone Star, which owns 75% of Novo Banco, formally received takeover offers from both Caixabank and French banking group BPCE. In addition to the buyout offers, Lone Star is also considering the possibility of selling part of its stake through an IPO of Novo Banco in the future. There had been speculation that the value of the Portuguese bank could be between €5.5 billion...
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