Espirito Santo Fin Re Agreement
16 May 2014 - 1:50AM
UK Regulatory
TIDMEOS
Société Anonyme
Registered Office: 22/24 boulevard Royal, L-2449 Luxembourg
R.C.S. Luxembourg B 22.232
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The Espírito Santo Financial Group provides, through its
subsidiaries, a global and diversified range of
financial services to its clients including Commercial banking,
Insurance, Investment banking, Stockbrokerage and Asset management
in Portugal and internationally. For additional information on
Espírito
Santo Financial Group, its subsidiaries, operations and results,
please visit the Company's website on
www.esfg.com
Joint release by Espírito Santo Financial Group S.A. and Crédit
Agricole S.A. on BESPAR
Luxembourg/Portugal- 15 May 2014 - Espírito Santo Financial
Group S.A. (NYSE Euronext Lisbon:ESF; Bloomberg: ESF PL; Reuters:
ESF LS) and Crédit Agricole SA on this date announce the
dissolution and division of assets held at BESPAR - Sociedade
Gestora de Participações Sociais, S.A. (BESPAR). This holding
company was incorporated in 1991 for the purposes of participating
in the privatisation of Banco Espírito Santo S.A. (BES).
Following the dissolution of BESPAR, ESFG now holds, directly
and indirectly, a 27.36% stake in BES and Crédit Agricole SA Group
holds 20.12%.
Also on this date, Crédit Agricole SA Group sold to Companhia de
Seguros Tranquilidade S.A. 10.0% of the share capital of
ESAF-Espírito Santo Activos Financeiros, SGPS, S.A., and 50.0% of
BES, Companhia de Seguros, S.A. Crédit Agricole SA Group therefore
shall cease to be a shareholder in these companies.
The completion of the sale of the shareholdings at ESAF-Espírito
Santo Activos Financeiros, SGPS, S.A. and BES, Companhia de
Seguros, S.A. is subject to market conditions including in respect
to BES Companhia de Seguros, S.A., the approval or non opposition
of the competent supervisory or regulatory authorities.
Contacts:
Filipe Worsdell
Espírito Santo Financial Group S.A.
+44 203 429 2100
fworsdell@esfg.com
Miles Chapman
Taylor Rafferty
+44 207 614 2916
miles.chapman@taylor-rafferty.com
This information is provided by Business Wire
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