Banco Espirito Santo (BES) is selling a voting stake of 4.1% in Brazilian bank, Bradesco, Reuters reports. Cidade de Deus Companhia Comercial de Participacoes, a holding company linked to Bradesco, is buying the stake. The stake is being sold for about €852 million by the Portuguese bank. The sale will have a positive impact of about 30 basis points on BES’ core tier one capital ratio.

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