novobanco Acquired by BPCE | Financial Services M&A Deal

BPCE has completed the acquisition of novobanco, a banking business in Portugal, for $6.7 billion. BPCE acquisitions bring a fourth-largest Portuguese bank into the group, expanding retail banking and strengthening local financing capacity in Lisbon and across Portugal. Novobanco acquisition adds more variable-rate credit exposure and increases BPCE’s footprint in the second domestic market for its retail banking activities. This strategic acquisition is a financial services M&A divestiture acquisition from the Portuguese state and resolution fund and Lone Star Funds, with BPCE as the sole shareholder after closing. The deal price was set under the June 2025 MoU and results in a final purchase value of €6.7 billion as of April 30, 2026.