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Banco Espirito Sells €852M Bradesco Stake

Banco Espirito Santo is selling a voting stake of 4.1% in Brazilian bank, Bradesco.

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.

Click here for the story from Reuters.

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