Lone Star takes charge of Portugal`s state-rescued Novo Banco
(World News Brazil)

U.S. private equity firm Lone Star signed on Wednesday the definitive agreement with Portugal`s bank resolution fund, giving it a 75 percent stake in state-rescued lender Novo Banco and putting an end to a near three-year sale process. Under the deal, Lone Star will inject a total of 1 billion euros into the bank, which was formed from the ashes of Banco Espirito Santo`s collapse in 2014 after a 4.9 billion euro rescue, mostly in public funds. ......