Peter Tinker
pedro.latoeiro@economico.pt
The Bank of Portugal asked the French BNP Paribas to submit a proposal to act as financial advisor in determining the future of New Bank.
“The Bank of Portugal invited BNP Paribas Corporate Finance to tender for services as financial advisor to the process leading to the creation of a stable and committed to the development of the New Bank shareholder structure, “said a statement from the central bank.
This operation “will be held in conjunction with the administration of the New Bank”, led by Vítor Bento, and aims to “maximize the value of the transaction without affecting the normal activity of the New Bank.”
The New Bank was incorporated under the bailout to Banco Espírito Santo (BES ) in order to be sold. The institution is controlled by the Resolution Fund, the vehicle through which New Bank received € 4.9 billion.
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