BPCE Group Completes Acquisition of Novo Banco (eco.sapo.pt)

• BPCE becomes the official owner of Novo Banco.
• Final contract signed between French buyer and Portuguese authorities.
• Concludes long-term restructuring of the former BES entity.

"French banking group BPCE has officially assumed ownership of Novo Banco following the final signing of the acquisition contract with the Portuguese state and the Resolution Fund. This milestone concludes the complex restructuring of the successor entity to Banco Espírito Santo. The takeover represents a strategic expansion of French financial influence in Southern Europe and marks the end of a long-standing state intervention period in the Portuguese banking sector, highlighting ongoing shifts in European financial ownership structures."