Wednesday, August 20, 2014

Bank accounts of the ESS have to pass for New Bank – TVI24

Bank accounts of the ESS have to pass for New Bank – TVI24

One of the conditions to the completion of the tender offer for Holy Spirit Health is the final assignment for the New Bank of all positions that the company and its subsidiaries held by BES, said the group Angeles.

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The conditions have been shaped in the preliminary announcement of the takeover bid, announced this Tuesday Market Commission and Securities. One is the ‘final transmission to the Bank of New all asset and liability positions that the target company [ESS] and each of its subsidiaries held in Banco Espírito Santo (BES), including cash deposits, bank deposits mobilized immediately and other cash and cash equivalents. “

Another of the conditions for the implementation of the bid is the acquisition by the Mexican group” a number of shares representing at least 50.01% of the share capital »ESS.

The completion of the Tender Offer is also subject to” obtain consent or statement of non-opposition, without conditions, the transmission, by indirect means, of shares representing the capital stock of the subsidiaries’ of ESS, by ‘certain private insurance companies, including external managers, sub-systems and public or private health companies by the Ministry of Health. “

Relating to VTO, the Angeles offers EUR 4.30 per share, above the market value. The offered 4.30 euros for each share of ESS incorporate a premium of 9% over the current price of the securities. Accounts made, value the company at EUR 410.8 million, an increase of 34.1 million />

The ESS owns, among other assets, the Hospital da Luz and Loures Hospital.

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