Novo Banco sells part of the Vortal business to the fund Vallis
The bank headed by António Ramalho sold its 36.65% stake on the electronic hiring company Vortal, following their strategy of alienating their non-strategic assets.
The bank headed by António Ramalho continues selling its assets. Novo Banco announced this Thursday it has sold its participation in Vortal, an electronic hiring company.
This transaction is an important step forward in Novo Banco’s divestment strategy of non core assets whilst focusing in its core banking activity.
In a press release sent to CMVM (Portuguese Securities Market Commission), Novo Banco informed they have alienated their 36.65% shareholding position in Vortal to the fund Vallis Sustainable Investments. With this operation, Novo Banco leaves a Portuguese information technologies’ multinational, a leader in electronic purchases’ systems. This decision results from the bank’s alienation strategy; other sales in the insurance business have been performed, as well as Cape Verde’s banking operation.
“This transaction is an important step forward in Novo Banco’s divestment strategy of non core assets whilst focusing in its core banking activity”, is specified in the bank’s press release.
Without disclosing the amount gained with the operation, the bank headed by António Ramalho mentions that “the completion of the transaction results in a marginally positive impact on the Common Equity Tier 1 ratio of Novo Banco”.
