Well Link Group Holdings, a company incorporated in Hong Kong, has bought Novo Banco Asia, the Macau unit of Portugal’s Novo Banco. The bank said in a statement to the Portuguese Securities Market Commission in Lisbon that closure of the deal per the agreed terms will have a major positive impact on Novo Banco’s common equity tier I. It also constitutes divesting non-strategic assets of the bank, which continues its strategy of focusing on domestic banking business, the statement added. Novo Banco inherited what were considered the quality assets of the failed Banco Espírito Santo. Well Link Group Holdings is controlled by a group of investors with interests in insurance, securities and futures brokerage, financial services for private individuals and corporations, and asset management.
