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Portugal sees Novo Banco sale process concluded in weeks-finance minister
March 7, 2017 / 11:06 AM / in 8 months

Portugal sees Novo Banco sale process concluded in weeks-finance minister

LISBON, March 7 (Reuters) - The sale process of Portugal’s Novo Banco should be concluded in coming weeks after exclusive negotiations with U.S. private equity firm Lone Star, Finance Minister Mario Centeno said on Tuesday.

“The expectation that exists is that this process runs its course in coming weeks,” Centeno told journalists. “This is a natural process which will be concluded in coming weeks.”

The Bank of Portugal, which is leading the sale of Novo Banco, started a final round of negotiations with Lone Star last month to flesh out the terms of the potential sale of state-rescued Novo Banco. (Reporting By Sergio Goncalves, writing by Axel Bugge)

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