Tuesday, December 30, 2014

Banco Popular formalizes interest in the sale of the New Bank – publico

Banco Popular formalizes interest in the sale of the New Bank – publico

                 


                         
                     


                         

                 

 
                         

The Spanish People’s Bank formalized with the Portuguese authorities its interest in following the sale of the New Bank, advancing on Tuesday the Spanish agency Efe and Europa Press.


                     


                         In a letter sent by the bank chaired by Ángel Ron the Portuguese authorities, the Spanish bank, which is present in Portugal, states that want to analyze the conditions of sale of the financial institution.

The online edition of the Spanish newspaper Five Days , citing aa private agency Europa Press, contends that the People’s Bank admits the possibility to make a bid to acquire the New Bank “when the time comes.”

The Bank’s interest People that do not mean it will submit a proposal, referred to EFE quoted by Lusa, joins the same intention already expressed by Banco Santander.

The People’s Bank Group, founded in 1926, is the fifth banking group in Spain. In Portugal, Banco Popular Portugal has 180 agencies, according to information provided on its website.

Other stakeholders
In Portugal, Banco BPI has also made official its interest in acquiring institution that resulted from the division of Banco Espírito Santo (BES) in good bank and bad bank.

The national business newspapers have reported that the Chinese Fosun and the US American Apollo also have expressed interest in buying the Portuguese institution which is officially on sale, but the information is not official.

Potential buyers have until this Wednesday, December 31, to formalize in writing your interest in the New Bank with BNP Paribas, the organization contracted to assist the operation.

The New Bank was born on August 3, when the Bank of Portugal took an intervention in the BES, dividing it into bad bank, which has concentrated toxic assets, and good bank, which changed its name to New Bank. This is currently held by the Resolution Fund, the responsibility of leading national banks, which injected EUR 4900 million in the new institution.

Since the first time it is planned to sell the New Bank, process is expected to accelerate in 2015 start.

 
                     
                 

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