Bain and Cerberus Close to Acquiring Two Portfolios of NPLs from Novo Banco

15 July 2019 – Richard D. K. Turner

Novo Banco is nearing the sale of two portfolios of non-performing loans in a deal worth approximately 3.5 billion euros, according to Bloomberg.

Bain Capital is mulling an offer to acquire the larger of the two, worth €3 billion, including assets both with and without collateral. Cerberus Capital is in advanced negotiations to buy the second portfolio, valued at 500 million euros. The sale would constitute one of the largest such operations in Portugal.

The bank initially offered the portfolio up for sale in April, requesting that any interested parties appear by July 12.

Original Story: Jornal de Negócios / Lusa – Tiago Petinga

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