Citigroup acquired 3,753,415 securities of Banco Espírito Santo (BES), the so-called ‘bad bank’ following the intervention of the Bank of Portugal in the former BES, a business conducted outside the regulated market. The announcement was made on Friday by the Portuguese entity.
“The acquisition resulted from a transaction that occurred on May 21, 2015,” reads the statement which is available on the Securities Market Commission (CMVM), which specifies that the business was conducted by a Citigroup subsidiary the Citigroup Global Markets Limited.
After this operation, whose identity of the seller is unknown, the US entity now holds an overall position of
113,262,901 shares of BES, to which is added ‘swap’ contracts, corresponding to a share qualified joint of 2.0137%. 
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