Espirito Santo Fin Re Agreement

 
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.

[phone]

[e-mail]

Miles Chapman

Taylor Rafferty

[phone]

[e-mail]

 
 
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