Sale of the New Bank may fail again – TVI24

Everything pointed to that the sale of the New Bank to remain completed until Christmas, but after all even runs the risk to fail (again). All because the Minsheng, the chinese group more well-placed among the candidates for the purchase, has not yet fulfilled one of the requirements that are key to a positive outcome.

TVI confirmed the news initially advanced by the business newspaper online the Echo of the Minsheng still has shown no proof of funds required, that is, still did not get to the Bank of Portugal to the legal declaration that you have the financial means to cope with the operation. Apurámos, also, that the Bank of Portugal met this afternoon with this question on the table.

The chinese investor proposes to assume 100% of the institution upon an increase of capital by ensuring to stay with more than 50% of the shares, and taking as a condition of the dispersion on the stock exchange of the remaining percentage. Something to apply in two years. Need, for this, to make proof of funds in the Bank of Portugal, that is, ensure that you are able to afford and capitalize the asset in the immediate future. And it was this that has not yet happened.

in addition To the chinese, were also signed memoranda of understanding with the fund the north-ameticano Lone Star and Apollo/Centerbridge, according to the newspaper.

The prime minister has said that it wants to have the financial system stabilized until the end of the year. You must be the Bank of Portugal to announce that the target to give (or not) to the New Database. The end of the year has been given as a date indicator. If it is not there, there is a time limit given by the minister of Finance: August 2017. Otherwise, the New Bank may have to be settlement by order of the Authority of europe Resolution.

After the first attempted sale in 2015 having failed, the contest the course is the second and has been the public expectation goes well, that does not mean that you can run a business and pears. Up because there is a risk of the State losing a lot of money. Were injected in the bank 4.900 million euros. Only the State loaned 3.900 million, taxpayers ‘ money, therefore.