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Lone Star is likely to sell a 25-30% stake in Novo Banco through an IPO, rather than pursuing a full sale, according to Portugal's Finance Minister. The bank, valued at approximately €5 billion, was established in 2014 following a government bailout of Banco Espirito Santo. Lone Star has held its 75% stake since 2017, with the government confirming it has not been informed of any plans for a complete divestment.
Portugal's government has yet to determine the size of its stake to be sold in the planned privatization of TAP SA, the state-owned airline. Finance Minister Joaquim Miranda Sarmento confirmed discussions with potential buyers, including Air France, Lufthansa, and British Airways, with the privatization expected to occur in 2025.
Portugal’s Finance Minister Joaquim Miranda Sarmento expressed confidence that France will resolve its current political crisis, stating it poses no threat to Europe. In an interview, he emphasized that he believes a political solution will bring stability to the country.
Joaquim Miranda Sarmento
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lone star plans 25 to 30 percent stake sale in novo banco
Euro
CaixaBank GIF Iberia R
Banco Espírito Santo, S.A.
PRT
ESP
Mark Potter
Paulo Macedo
Joaquim Miranda Sarmento
Sergio Goncalves
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17:10 31.01.2025
portugal plans tap privatization with potential buyers in 2025
15:51 09.12.2024
Portugal's finance minister expresses confidence in France's political stability
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