Slaughter and May acted for the management team of Novo Banco S.A. (“Novobanco”) on the sale by Lone Star of its majority stake in Novobanco to Groupe BPCE. The transaction values Novobanco at around €6.4 billion.
Novobanco is a major Portuguese bank, of which Lone Star acquired 75% in 2017, buying it out of resolution from the Bank of Portugal. France-headquartered BPCE is one of Europe’s largest banking groups. The transaction is subject to customary regulatory approvals and is expected to complete in H1 2026.
Corporate
Tax
Charles Osborne
Partner
Alexander Goodchild
Associate