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Europe Daily Bulletin No. 11131

30 July 2014
ECONOMY - FINANCE - BUSINESS / (ae) portugal
Banco Espirito Santo's main shareholder in liquidation

Brussels, 29/07/2014 (Agence Europe) - Espirito Santo Financial Group (ESFG), the main shareholder of Portuguese bank Banco Espirito Santo (BES), and Rioforte Investments, the holding company of Rioforte, have both been placed in public liquidation, announced the Tribunal d'Arrondissement de Luxembourg court in a press release recently. ESFG holds 20% of BES' capital and announced on 24 July that it was no longer able to pay its debts. ESFG says the liquidation scheme under which the three...