Worldway Lisbon News: According to local Portuguese media, the Portuguese Chinese Newspaper, the Financial Times reported on Monday that two Chinese companies, Anbang Insurance and Fuxing International, are the most likely Chinese enterprises to acquire the New Bank in Portugal. So far, Anbang and Fuxing are the only companies that have made bids exceeding 4 billion euros.
According to Dealogic data, prior to this, the largest investment by Chinese investors in Europe began in 2007 when the China Development Bank acquired 2.6% of Barclays Bank for 3 billion euros. It is evident that whichever Chinese company successfully acquires the New Bank will set a precedent.
Last week, the Bank of Portugal received five non-binding bids for the New Bank and is currently awaiting binding offers, with a deadline of June 30. The Financial Times cited sources familiar with the matter stating that although Banco Internacional de España and Apollo Global Management from the United States, as well as Cerberus, have also made bids, the focus of the acquisition seems to have shifted to the highest bidding Chinese enterprises. Who will ultimately prevail remains to be seen.
In addition to corporate investments, individual investments from China to Portugal are also noteworthy. Since the Portuguese government launched the "Golden Residence" investment immigration policy in October 2012, Portugal has attracted a total investment of 1.444 billion euros, with Chinese investors accounting for 80% of this amount.
As a high-value personal investment immigration project, the Portugal property investment immigration program is recognized in the industry for its price advantage, low application threshold, ease of obtaining citizenship, ability to work locally, and the option to bring both spouses' parents and children to benefit the entire family. Worldway immigration experts state that purchasing a property worth 500,000 euros allows for quick immigration to Portugal, and after holding a valid residence permit for 6 years, one can apply for citizenship. One application allows the whole family to immigrate, enjoy EU welfare benefits, travel freely to 172 countries, and enter 26 Schengen countries without restrictions.
