The new round of negotiations between the Banco de Portugal and the two candidates are still in the race for the purchase of the New Bank has already started. In the talks with Lone Star, the priority of the supervisor is to make the u.s. investor drop the public guarantee required.
In the negotiations with the consortium Apollo/Centerbridge, which has delivered a proposal improved on 4 January, the main objective is to become binding on all components of the offer.
these Are the lines of negotiation set out by the Bank team from Portugal, led by Sérgio Monteiro, for the next few weeks, you know the Business. Within the supervisor there is the conviction that the two trays and that, at this time, if you play the process of sale of the New Bank, will enable you to find a private solution for the institution.
In the offer of the Lone Star, at this time, the only obstacle is the fact that provide for a State guarantee for the assets are not profitable, a requirement that the Government has already said it does not accept, to not question the public accounts. By the financial conditions in the table, the proposal could have given rise to a contract of sale.
Incidentally, that the Business established, this investor already has a proposed agreement of purchase and sale. That is, as soon as the Lone Star prescinda of the guarantee of the State there are conditions to close a deal with the candidate best-positioned.
in the case of the alliance Apollo/Centerbidge is not at this time clear whether the last version of your proposal includes or not the public guarantees provided for in the first firm offer. It is certain that there is not yet a proposal for a contract of purchase and sale agreed upon.
The next few weeks will be of intense negotiations. Because the Government has already warned that it wants a solution fast to the New Bank.
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