March 28, 2017 / 11:16 AM / 10 months ago

Portugal PM sees Novo Banco sale this week

LISBON, March 28 (Reuters) - Portugal’s government expects to conclude the sale of state-rescued lender Novo Banco to U.S. private equity firm Lone star later this week, Prime Minister Antonio Costa said on Tuesday.

“Yes, that is the prospect that we have,” he told reporters when asked whether the sale was likely to happen this week.

The final stages of negotiating the sale involve not only Portuguese, but also European authorities. U.S. fund Lone Star has offered to inject up to 1 billion euros into the bank in return for a 75 percent stake, according to Reuters sources.

The European Commission said on Monday it wanted counterbalancing measures if the state was to keep a 25 percent stake rather then sell Novo Banco in its entirety as agreed with Brussels. (Reporting By Sergio Goncalves, writing by Andrei Khalip, editing by Axel Bugge)

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