Jun 11, 2025 8:27 PM IST
US Stock Market LIVE Updates: BPCE Is Said to Lead Bidding for Lone Star-Backed Novo Banco
French banking group BPCE has emerged as the leading bidder to acquire Portuguese lender Novo Banco SA from Lone Star Funds, people with knowledge of the matter said.
BPCE has pulled ahead of its main rival in the bidding, Spain’s CaixaBank SA, and is trying to hammer out terms of a deal, the people said. Lone Star has also been considering a potential listing of Novo Banco and hasn’t chosen which path to take, according to the people.
The investment firm could make a decision as soon as the coming days, the people said, asking not to be identified because the information is private. Any sale would add to the $27 billion of acquisitions announced in the banking industry this year, according to data compiled by Bloomberg.
Deliberations are ongoing and talks could still fall apart, the people said. Representatives for BPCE, Lone Star, Novo Banco and CaixaBank declined to comment.
