中資再度盯上葡萄牙銀行業

Chinese companies aretargeting stakes in two of Portugal’s leading banks as the country’s financialsector undergoes a transformation aimed at clearing bad loans and boostingcapital.

中資公司正考慮入股葡萄牙兩家領先銀行。目前葡萄牙金融業正在推進一場旨在清理不良貸款和充實資本的轉型。

China Minsheng FinancialHolding has joined the list of candidates for Novo Banco as Lisbon makes asecond attempt to sell the so-called good bank salvaged from the ruins of Banco EspíritoSanto in 2014.

中國民生金融控股(China Minsheng FinancialHolding)加入了收購Novo Banco股份的候選人名單；里斯本方面正在第二次嘗試出售2014年從聖靈銀行(Banco Espírito Santo)的廢墟中搶救出來的這家所謂好銀行。

At the same time, FosunIndustrial Holdings, part of China’s biggest private conglomerate, is inadvanced talks on acquiring 16.7 per cent of Millennium BCP, Portugal’s largestlisted bank, and potentially lifting its stake subsequently to 30 per centthrough capital increases.

與此同時，中國最大的私營企業集團的一部分復星產業控股(Fosun Industrial Holdings)收購葡萄牙最大上市銀行Millennium BCP（見上圖）16.7%股份的交易已進入深入談判階段，復星還可能通過增資將所持股份增至30%。

Besides Minsheng, contendersfor Novo Banco include private equity groups Apollo Global Management, LoneStar Funds and Centerbridge as well as two Portuguese lenders, BCP and Banco BPI,according to Lisbon bankers.

據多名里斯本銀行業人士介紹，競標Novo Banco股份的實體除了民生金控外，還包括私人股本集團Apollo Global Management、Lone Star Funds和Centerbridge，以及葡萄牙的兩家銀行：BCP和Banco BPI。

Hong Kong-based Minsheng hascontracted Haitong Bank as the financial adviser for its offer, which isbidding for a controlling stake in Novo Banco to be acquired through a stockmarket flotation, the bankers said.

上述銀行業人士表示，總部位於香港的民生金控聘請海通銀行(Haitong Bank)擔任其競標的金融顧問，該公司將通過在股市上市完成對Novo Banco控股股份的收購。

Haitong Bank was BESI, theinvestment banking arm of BES, before it was acquired and renamed by China’sHaitong Securities in 2014.

海通銀行的前身是BESI——葡萄牙聖靈銀行旗下的投資銀行部門，2014年被中國海通證券(Haitong Securities)收購後更名。

Portuguese authorities have seta deadline of November 4 for contenders for Novo Banco to submit their finaloffers. In addition to an outright sale to a single bidder, Lisbon isconsidering floating part of the lender on the stock market, selling separatestakes to different investors or breaking the bank up into separate units,according to people close to the deal.

葡萄牙有關部門已把11月4日列爲Novo Banco股份的競標者提交最後報價的截止期限。據接近交易的人士介紹，除了向單一投標人直接出售股份外，里斯本方面還在考慮幾個方案，包括將該銀行的部分股份在股市上市，向不同投資者分別出售股份，或者把該行分拆成幾個獨立單位。

Portuguese lenders, whichfinance the resolution fund that bailed out Novo Banco, have been bracing forheavy losses from the sale. The rescue cost the fund EURO4.9bn, EURO3.9bn ofwhich came from a government loan. Banks are expected to be given up to 25-30years to pay back the loan.

當初出資建立紓困Novo Banco的處置基金的葡萄牙各銀行，在此次出售交易中面臨嚴重虧損。紓困使該基金花掉49億歐元，其中39億歐元來自政府貸款。估計相關銀行有25至30年時間償還貸款。

A first attempt to auctionNovo Banco collapsed in September last year when the Bank of Portugal rejectedoffers from Fosun, China’s Angbang Insurance and Apollo as too low.

去年9月，拍賣Novo Banco的第一次嘗試以失敗告終，當時葡萄牙央行(Bank of Portugal)拒絕了復星、中國的安邦保險(Angbang Insurance)，以及Apollo的報價，認爲這些報價都太低。

BCP has called a shareholdermeeting on November 9 that is expected to raise a voting rights cap from 20 percent to 30 per cent to facilitate the Fosun bid, which the BCP board haswelcomed.

BCP已定於11月9日舉行股東大會，屆時預計將把投票權上限從20%提高至30%，以便爲復星入股鋪平道路，BCP董事會已對復星此舉表示歡迎。

The renewed interest ofChinese groups in Portuguese lenders comes as Lisbon presses ahead with plansto set up a “bad bank” to relieve lenders of a heavy burden of non-performingcredit and problem assets.

中資集團對葡萄牙各銀行再度感興趣之際，里斯本方面正推進相關計劃，擬建立一家“壞賬銀行”，幫各銀行減輕不良信貸和問題資產的沉重負擔。