Portugal’s Novo Banco has completed the sale of its investment banking unit, Banco Espirito Santo de Investimento (BESI), to China’s Haitong Securities.
Go deeper with GlobalData
The investment banking arm has been rebranded as Haitong Bank upon the completion of the acquisition.
The two parties had earlier agreed to the deal valued at EUR379m in December.
Novo Banco was created in August 2014 to rescue the assets and liabilities of the failed lender Banco Espirito Santo.
Portugal is currently in the process of offloading Novo Banco, and is set to begin negotiations with a bidder after failing in talks to sell the bank to Anbang Insurance Group.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
