New Bank: BPI informs the market that proposal did was not … – TVI24

The BPI said on Saturday the market that the proposal made for the purchase of the New Bank was not selected for the third stage when the entity was notified that even the Bank of Portugal (BoP).

“At the request of the Securities Market Commission (CMVM), we inform you that the Bank of Portugal notified the BPI bank that its proposal was not selected for the third phase of New sale procedure Bank, ‘says the entity led by Fernando Ulrich in a statement sent to the CMVM.

The second phase of the New Bank sale process ended on Friday, having been selected five of the seven entities that were in the race to submit binding proposals by the end of June, announced the BoP.

“The Bank of Portugal invite the selected entities to submit by the end of June 2015, proposed binding on acquisition of New Bank”, reads a statement from the supervisor, not identifies the institutions concerned.

The invitation shall be accompanied by the specific contract documents establishing the following procedure in this third phase, during which “candidates will have access to more detailed information on the New Bank and have the opportunity to perform a due diligence ‘, stressed the entity led by Carlos Costa.

He added: “The decision of the Bank of Portugal was preceded by a prior hearing procedure, under which entities are not selected under preliminary decision granted a period of ten working days to rule on the meaning of this decision ‘.

Of the 17 institutions that participated in the first phase and 15 which were endorsed by the supervisor to proceed to the second phase, only seven formalized this interest, now having lot of potential buyers of the New Bank downloaded to five.

The BPI was one of the entities that had passed the second round, but that was far away from the range of possible buyers of the New Bank.

A 03 August, the Bank of Portugal took control of BES, after half-yearly losses of 3.6 billion euros, and announced the separation of the institution into two entities: the so-called bank bad (a vehicle that keeps the BES name and concentrating the toxic assets and liabilities of BES, as well as shareholders) and the bridge bank that was designated New Bank.