Closed the agreement for the sale of the shares of Tranquility. In a statement sent to the Committee on Markets and Securities, dated on Monday, the New Bank reports that there is already agreement with the investment fund Apollo Management.
The shares were pledged as financial pledge to the New Bank to cover a credit to the Espírito Santo Financial Group. The agreed sale now will make the execution of that financial pledge.
“The consideration agreed corresponds to the best bid received during the sale process conducted by the shareholder’s Insurance Company Tranquility presented by Apollo,” reads the statement.
The transaction is being accompanied by the Insurance Institute of Portugal.
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