France's Groupe BPCE Bidding for Portuguese Lender Novo Banco, Bloomberg Says, Citing Sources

Dow Jones

Jun 11

--French bank Groupe BPCE is the lead bidder to buy Portugal's Novo Banco, which is majority owned by Dallas-based Lone Star Funds, Bloomberg reports, citing unnamed sources.

--Groupe BPCE and Spain's CaixaBank have both put forward bids for the Portuguese lender, Bloomberg reports.

--Lone Star is also considering a potential IPO for Novo Banco but hasn't yet chosen which path to take, though a decision could be made as soon as the coming days, Bloomberg reports.

--Novo Banco, Groupe BPCE, CaixaBank and Lone Star declined to comment.

Full story: https://shorturl.at/o2Nes

Write to Elena Vardon at elena.vardon@wsj.com

(END) Dow Jones Newswires

June 11, 2025 09:49 ET (13:49 GMT)

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