Novo Banco announced the sale of its headquarters on Avenida da Liberdade in Lisbon for 112.2 million euros. The promise of sale contract was signed after “a competitive sale process,” the institution said in a statement.
The operation, unlike other real estate sales of the bank in the past, is expected to have a positive impact on the accounts of 55 million euros that will benefit this year’s profits. The transaction is expected to close in the third quarter.
The bank does not reveal the buyer, but the newspaper Eco advances that it will be the Spanish real estate company Merlin Properties. This operation is part of the measures adopted to speed up the divestment of non-strategic assets and will allow capital ratios to be increased by 40 basis points.
Novo Banco’s headquarters will move to Parque Tajo, in Oeiras, where the Novo Banco Campus is being built, which will also gradually house other central services that are currently installed in various buildings in Lisbon.
Source: Observadora
