BPCE Eyes Full Ownership
Under the terms of a newly signed memorandum of understanding, BPCE not only aims to purchase Lone Star’s majority stake but is also in negotiations to acquire the Portuguese government’s 11.5% holding, and the 13.5% owned by the country’s Banking Resolution Fund, potentially paving the way for full ownership.
BPCE CEO Nicolas Namias said the move positions the French banking group for a transformative leap:
“This transaction will make BPCE a retail banking player in Europe and deepen our role in financing the Portuguese economy.”
Deal Timeline and Next Steps
While the memorandum outlines the core intent, the deal is still subject to:
-
Consultations with employee representative bodies
-
Regulatory approvals
-
A definitive acquisition contract
The parties anticipate finalizing the acquisition by June 2026, marking a calculated yet monumental shift in European finance.
A Banking Legacy Rewritten
What began as a high-stakes rescue during Europe’s banking collapse may now end as a cross-border success story, with France’s BPCE poised to breathe new life into Portugal’s post-crisis financial sector. As Novo Banco turns the page from bailout to private European stewardship, the eurozone’s banking future takes another bold, unexpected step forward.
