Saturday, July 21, 2018
Novo Banco sale postponed.
Negotiations have failed between Novo Banco and its buyers Apollo, Anbang, and Fosun. Rumors seem to indicate Banco de Portugal to re-enter negotiations with Apollo before the final decision to postpone the sale to 2016. The last standing bid offer from the Chinese Fosun company was 1.5 billion Euros ($1.7 billion) that was about half the required original offer amount...
Novo Banco - Image Credit João Ramos
Yesterday, Haitong bought Novo Banco investment bank for last December's agreed value of 379 million Euros ($425 million). Last December's talk between Novo Banco and the Chinese brokerage Haitong Securities Ltd company closed with a possible future sale of the BES Investment Bank for 379 million Euros ($425 million). The sale has since then been approved by the Bank of...
Netflix home page message today
Marc Randolph and Reed Hastings co-founded Netflix in 1997 and built the company to today's 65 million subscribers. They are now one of the most successful on-demand Internet streaming media services in the world. Reed Hastings, in an Interview to the Portuguese daily "Expresso", said the new support center for the South European region to be based in Lisbon. Sunny...
Euro - Image credits Mick Carvalho
This Friday the Eurogroup agreed to the third Greece rescue package of € 86 billion ($ 95.5 billion). The 3-year bailout first tranche of € 26 billion ($ 28.9) will be used to repay debt and recapitalize the banking system. According to the Greek Finance Minister Euclid Tsakalotosthe, a depositors money bail-in is out of the question. The Eurogroup president,...
Quadranet INC
Crissic Solutions LLC sale to Quadranet INC is now confirmed. The sale was a surprise to most Crissic customers when they saw the official sale confirmation on a popular Internet forum. Crisic Solutions, LLC is a Springfield company specialized in unmanaged VPS (virtual private servers) services. Its owner, Skylar MacMinn, managed to develop the business and amass a fair number...
Novo Banco - Image Credit João Ramos
The Banco de Portugal, the institution regulating the Novo Banco sale, was hoping for higher bids, but only got Apollo to raise their offer. According to Banco de Portugal, out of the three contenders, only the American Apollo company increased the bid for the “Novo Banco” buyout. The two other Chinese competitors, Fosun, and Anbang didn’t raise their bids. Novo...

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