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Novo Banco’s transaction advised by VdA is nominated “Deal of the year”

February 23, 2018, Advocatus; Eco

The International Financial Law Review (IFLR) has nominated the acquisition of Novo Banco by Lone Star as Deal of the Year 2017 in the category of Private Equity.

The IFLR regards the transaction involving the private equity fund Lone Star as a long term process facing a myriad of obstacles, made pursuant to the regulations in place at the time and signed in October 18 2017, allowing for the sale to take place with the Portuguese State keeping a 25% stake in the bank’s share capital.

VdA advised the process for over 3 years, and more than 25 000 hours. This operation, pioneer worldwide, was carried out with the participation of lawyers from M&A, Public Law, B&F, Capital Markets, Competition & EU, Tax Law, Private Law, Labour Law, IP and coordinated by Jorge Bleck, Benedita Aires and Ana Marta Castro, present throughout the sale procedure.

Alongside VdA was Allen & Overy as international counsel, BPN Paribas as a financial adviser in the early stages of the process and Deutsche Bank in the final stages.

Weil, Gotshal and Manges and DLA Piper advised Lone Star and various teams of national and international lawyers assisted the potential buyers actively participating in the sale procedure.

The IFLR Awards feature international deals considered innovative in the legal field.

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