Reported 2 days ago
France's BPCE has finalized a €6.4 billion ($7.4 billion) deal to acquire Novo Banco, including a 75% stake from U.S. firm Lone Star, and additional stakes from Portuguese state and banking resolution funds. This transaction reflects a trend towards consolidation in Europe's banking sector, responding to competitive pressures from larger U.S. banks. BPCE plans to complete the acquisition by mid-2026, positioning itself for greater market presence in Portugal.
Source: YAHOO