Caixabank hires Deloitte to help decide whether to buy Novobanco
BPI's owner has the consultancy Deloitte "fine-tuning the calculations" in relation to Novobanco's valuation.
Spanish bank Caixabank, which owns BPI, has hired Deloitte to help it decide whether to go ahead with the acquisition of Novobanco, according to El Confidencial.
The Catalan organisation hired the consultancy “to fine-tune its calculations” in relation to the valuation of the Portuguese bank, says the Spanish newspaper.
The process of selling Novobanco is entering its decisive phase. Lone Star has two options on the table: either a direct sale to a bank or the dispersal of capital on the Lisbon stock exchange. The IPO could take place by the end of June or in September, according to the bank’s CEO, Mark Bourke.
Caixabank may not be alone in the race. ECO reported in April that the French group BPCE, owner of Natixis, is also evaluating the subject. Caixa Geral de Depósitos (CGD) has also publicly expressed its interest.
Novobanco could be valued at between five and seven billion euros, according to estimates by Spanish investment bank JB Capital.
