LISBON Feb 20 The Bank of Portugal will hold a
final round of exclusive negotiations with U.S. private equity
firm Lone Star as it seeks to flesh out the terms of the
potential sale of state-rescued lender Novo Banco, the central
bank said on Monday.
"The Bank of Portugal has decided to select potential
investor Lone Star for a concluding round of exclusive
negotiations, with a view to finalising the possible terms of
the sale," it said in a short statement, without providing more
The central bank last month picked Lone Star ahead of other
prospective buyers including China's Minsheng Financial Holding
and U.S. fund Apollo. It said then that Lone Star
had set conditions that could have an impact on public accounts,
which the state sought to minimise via further talks.
Portugal faces an August 2017 deadline to sell the bank.
(Reporting by Andrei Khalip, editing by Louise Heavens)