Hong Kong’s Well Link Group Holdings has agreed to acquire Novo Banco Asia for an undisclosed sum.

The sale of Novo Banco Asia, which is the Macau arm of Portuguese lender Novo Banco, is subject to regulatory approval from authorities including Banco de Portugal and Autoridade Monetária de Macau.

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.

Company Profile – free sample

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
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“This transaction is an important step forward in Novo Banco’s divestment strategy of non core assets whilst focusing in its core domestic banking activity,” Novo Banco said in a statement.

The closure of the deal will lead to a significant positive impact on the common equity tier 1 ratio of Novo Banco, the Portuguese lender said.

Novo Banco was created in August 2014 by the Bank of Portugal to rescue assets and liabilities of failed lender Banco Espírito Santo.