“We are confident and optimistic about the future of Novo Banco. We believe this new phase could bring stability and new growth opportunities, as we associate with the fourth largest banking group in Europe,” stated the press release issued today.
Lone Star has reached an agreement with the French banking group BPCE to sell its shareholder position in Novo Banco for an amount equivalent to a valuation of 6.4 billion euros for 100% of the share capital.
The completion of the transaction is expected in the first half of 2026, still subject to approval from competition authorities.
In a statement, the CNT, despite preferring a distribution of Novo Banco’s capital on the stock exchange that would allow employees to acquire shares at a preferential price, noted it “has no objections to the sales process.”
“We consider that a sale ensuring the maintenance of employment and the independence of the bank could be a positive solution not only for employees and clients but also for the national financial system,” argued the workers’ representative body.
Regarding the maintenance of current jobs, the workers’ committee expressed appreciation for the initial statements made by the CEO of BPCE Group, Nicolas Namias, on this matter.
Novo Banco’s employees ask that the shareholder be committed, willing to invest and develop business in the long term, asserting that the bank’s team “has already proven to be one of the most competent in the banking sector.”
In one section of the statement, under the theme “worker recognition,” the CNT noted that the success of Novo Banco is due “in large part to the professionalism, dedication, and resilience of its workers,” suggesting that “Lone Star should reward the bank’s employees for this success.”
Following the announcement of the sale of Novo Banco to the BPCE Group, the Portuguese Government announced it would oversee the sale by Lone Star, divesting the 11.46% of Novo Banco’s capital directly controlled by the Ministry of Finance, which is expected to yield around 733 million euros.
The remaining 13.54% is held by the Resolution Fund, which could gain about 866 million euros from the transaction.
