Groupe BPCE to Acquire Novobanco for €6.4bn

Groupe BPCE has announced a Memorandum of Understanding to acquire a 75% stake in Novobanco, the fourth-largest bank in Portugal, from Lone Star Funds. This €6.4bn transaction marks the euro zone's largest cross-border acquisition in over a decade, aligning with BPCE's "Vision 2030" strategic plan aimed at expanding its presence in Europe.

Novobanco has demonstrated strong growth, holding market shares of approximately 9% with individual customers and 14% with corporate clients. With 1.7 million customers and a robust digital presence, it stands as one of Europe's most profitable banks. The acquisition will bolster BPCE's growth and diversification strategy, transforming Portugal into its second-largest domestic market.

The move also emphasizes BPCE's commitment to supporting the Portuguese economy and enhancing its service offerings. The acquisition is expected to complete in the first half of 2026.