Press releases
29.06.2018Christine Daric, Claire Fougea, Cyrille Rumen, David Blondel, Jean-Pierre Delvigne, Julie Catala Marty, Magali Masson, Marion Brière Ségala, Paul Ast, Rémi Beydon

Franklin advises Novo Banco on selling BESV to My Money Bank

Novo Banco, Portugal’s third largest bank, has announced the sale of its 87.5% stake in its French subsidiary Banque Espirito Santo et de la Vénétie (BESV) to My Money Bank, a subsidiary of US private investment firm Cerberus.

Created in 2014 after the Portuguese government bailed out Espirito Santo, Novo Banco is now 75% controlled by US private investment firm Lone Star.

Led by M&A – corporate partner Magali Masson, Franklin’s team was composed of: