The Bank of Portugal received by Novo Banco three binding offers – Aguasdigital.com

                 Photo: EFE

Two workers change the name and posters of Banco Espirito Santo after processing in Novo Bank, in an office in Lisbon (Portugal). EFE / File

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             The Bank of Portugal received three binding offers for Novo Bank

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06/30/2015 15:10 (-6 GTM)

                Lisbon, June 30 (EFE) .- The Bank of Portugal (BoP) announced today that it has received three binding proposals to acquire Novo Bank, the third largest Portuguese financial institution resulting from the split of the collapsed Banco Espirito Santo (BES).
In a statement released this day, deadline for submission of final bids, the banking regulator did not specify what the three entities who finally submitted a binding offer for Novo Banco, but Portuguese media suggest that it is are . US company Apollo and Fosun and Chinese Anbang
In total there were five entities exceeded the previous phases of the sales process of Novo Banco: the Spanish Banco Santander, US funds Apollo and Cerberus, the Chinese Fosun and the Anbang insurance, also of Chinese origin.
Santander and Cerberus have finally decided to retire from the race by the bank.
In his note, the BOP indicates that analyze the proposals in the coming weeks to proceed make a decision.
With 72.465 million euros in assets and a market share of 18%, the Novo Bank is the third largest Portuguese financial institution, after the state Caixa Geral de Depósitos (CGD, with 100,000 million) and the Banco Comercial Portugues (BCP, with 78,800 million).
The Espirito Santo, intervened August 3, 2014 for accounting irregularities and management was split by a healthy part BOP (Novo Bank) and other toxic, which keeps the name of BES.
Due to the unprecedented application in the case of BES resolution mechanism adopted by the European Union in 2012, Novo Bank was recapitalized with 3,900 million euros of public funds and other 1,000 million from the Portuguese financial sector.