Proposed purchase of the New Bank delivered August 7 – publico

                 

                         
                     

                 

 
                         

The Bank of Portugal (BoP) yesterday announced the expansion of the deadline for submission of final and binding bids for the purchase of the New Bank.

                     

                         According to the statement from the regulator, following “the invitation to the three potential buyers who submitted a binding offer on June 30 to submit a binding revised proposal,” the Bank of Portugal decided to set the date of August 7 to presentation of this proposal. In the race are two Chinese groups, the Fosun (owner of Loyalty) and Angbang, and the US fund Apollo. The New Bank (former BES) had an injection of 4900 million euro, and the idea is to approach as much as possible the sales value to this value.

The BoP stressed that this possibility was already provided for in terms of reference for the third phase of the new sales process Bank, which provided that potential buyers are “invited to submit proposals binding at one or more successive rounds, there may be room for negotiation and the exclusion of potential buyers.”