Despite having been submitted more proposals for the purchase of the New Bank, at this time there are only two possibilities to choose from on the table of the Bank of Portugal: the fund China Minsheng or the u.s. fund Lone Star. The Bank of Portugal (BdP) is working to announce before Christmas the name of the next owner of the New Bank, advances the "Public" on Monday.
By investigating the early-morning from sources in the financial sector, the intention is that the purchaser’s name to be made public as soon as possible, even though the contract was only signed later. Despite fears that the business re fail due to the political instability that runs through Europe, the expectation of the BdP is that this time the sale will be successful.
"The investors are very committed and the markets already absorb shocks very naturally, as seen in the Brexit, and in the election of Trump," says a source involved in the process to "Public".
The u.s. fund Lone Star proposes to stay with 100% of the New Bank, but through the choice of assets. Already the China Minsheng Financial Group assumes 100% of the institution through a capital increase where guarantees more than 50% of the shares, with dispersion on the stock exchange of the remaining will be done in the following two years.
Both proposals meet the central requirement of the Resolution Fund to be for sale: the withdrawal of the institution of the status of the bridge bank.
for this To happen, the Resolution Fund must ensure that you lose the domain of the capital and has no influence on the management. By August 2017, the New Bank will have, by law, pass to the private sphere.
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