Lisbon, Jan. 31, 2025 (Lusa) - Portugal's finance minister said on Friday that the information he has is that Lone Star intends to make a Public Offer for Sale of around 25% to 30% of Novo Banco's capital and not of the entire stake.

"What we know from Novo Banco and Lone Star, and this information is public, [...] is that Lone Star intends to make [...] a Public Offer for Sale of around 25% to 30% of the capital," said Joaquim Miranda Sarmento, on the sidelines of the Leader's Agenda event organised by ISEG in Lisbon.

The minister emphasised that the government has never had "information that Lone Star is selling all of the 75% it holds in the bank".

The state directly and indirectly owns 25% of Novo Banco's capital.

Asked about a report in Jornal Económico that the government was interested in Caixa Geral de Depósitos going ahead with the purchase of Novo Banco, the minister reiterated that the government "respects Caixa Geral de Depósitos" management autonomy".

"Caixa Geral de Depósitos will make its own assessment of what the market conditions are and what future market developments may be," he said, and "if Caixa decides to make this assessment, in view of situations that may occur in the future, the government will then make decisions based on this assessment."

He also reaffirmed that the government does not interfere "in what is the management of Caixa Geral de Depósitos and in what may be Caixa's decisions to assess market conditions in relation to competitors".

MES/ADB // ADB.

Lusa