Portuguese Bank Novobanco Sells €400 Million Debt Linked to Former Benfica President

Portuguese bank to sell off €400 million in assets and debt of former football club president

Novobanco has initiated a sale procedure in order to get rid of its whole problematic position connected with Luís Filipe Vieira, the former president of Benfica, whose companies had built up liabilities amounting to more than €400 million with the bank.