Candidates for the purchase of the New Bank deliver on Tuesday, up to 17 hours, the binding offers by the bank. However, according to the Journal of Business , there may be new proposals on the table since the Bank of Portugal (BoP) admits request additional offers to drive up the price paid by the bank that joined the no toxic assets BES.
There are five candidates -Santander finalists, Fosun, Anbang Insurance Group, Apollo Global Management and Cerberus – which have not put forward whether or not to proceed with binding offers. The finalists have been advised of the intention of the regulator, writes the Business Journal on the issue on Tuesday. It is a final open auction where the shortlisted candidates are invited to submit best deals, without any further negotiation. It is recalled that both the government and the BoP had already advocated a sale by competitive auction which will tend to prevail cash inflow.
The resolution fund, managed by Banco de Portugal, injected 4900 million in bank (of which 3,900 million is a State loan) and bids will be less than this amount. The be confirmed, it means that the authorities not only did not prevent the failure of BES as conceived a resolution model that generated losses.
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