The shareholders of Novo Banco, the US fund Lone Star (75%) and the Portuguese State (25%), announced in June 2025 the sale of Novo Banco to the French banking group BPCE for € 6.4 billion.

According to the explanation given today by the Government, the value in the October accession agreement was revised upwards to €6.5 billion at the end of 2025.

Payment to the state

With the sale of the entire stake in Novo Banco for €6.7 billion, the Portuguese State receives €1.673 billion (€906 million for the Resolution Fund and €766 million for the Treasury and Finance Entity).

The Finance Ministry adds that the amount received from the sale, plus dividends already paid, “allows the State and the Resolution Fund to recover approximately €2 billion” of the capital injected into the institution.

Lone Star (majority shareholder) receives approximately €5 billion from the sale.

The sale of Novo Banco marks the exit of the Portuguese State from the bank's capital, created almost 12 years ago to protect the depositors of Banco Espírito Santo (BES) during its resolution.

Quoted in the press release, the Minister of State and Finance, Joaquim Miranda Sarmento, said that the sale allows the Portuguese State to close this issue.

“The sale of Novo Banco to one of the largest banking groups on a European scale allows us to close a turbulent chapter in our history, demonstrating credibility and recovery capacity. Despite the challenges of this process, we concluded this operation successfully, safeguarding the most important thing: the stability of the Brazilian financial system,” said the Minister.