Citigroup holds qualifying holding in the BES bad – Jornal de Negócios – Portugal

The US bank acquired 3.7 million shares of BES on 21 May. Gets more than 2% of the bank’s capital led by Máximo dos Santos.

Citigroup now holds a qualified holding in BES. The bank now holds 2.0137% of the voting rights and share capital of BES bad.

It was on May 21 that Citigroup Global Markets Limited acquired 3753.415 BES shares, announced the bank led by Louis Maximum dos Santos this Friday, May 29th.

This is the second acquisition of qualifying holdings since the BES has undergone a measure of resolution to August 3. The first took place in November when Morgan Stanley acquired 31.4 million shares and now holds 2.11% of BES ‘capital.

Despite the negotiation of BES in Lisbon stock be suspended from 1 August is still possible to trade securities in direct business, outside the regulated market.

After its bankruptcy, BES was divided into two institutions. Healthy assets and liabilities came to the New Bank, a total of EUR 64 billion. Already the toxic assets and liabilities were in BES, a total of one billion euros.

So it was in bad BES who were active as deposits of directors of the bank, claims against the companies of Grupo Espírito Santo (GES) and the loan from Goldman Sachs to BES. In addition, the bank also was with international operations such as BES Angola, Espirito Santo Bank in Miami, in the United States, or the Aman Bank of Libya.

But some of these assets are no longer BES bad. One is the BES Angola now for the balance of good BES:. New Bank

Also the Libyan bank Aman Bank left the BES sphere, to be sold in early March by 3.9 million euros to Freslake Limited after being acquired by 38 million in 2009.

Also the Miami bank is no longer in balance BES. It was sold to Benacerraf Group of Venezuela. The sale of Espirito Santo Bank was closed for 10 million euros in March.

It is currently running the third stage of the New Bank sales process until the end of June. This is the end date for those interested in Novo Banco deliver a final offer to purchase and the sale of the entity should be completed this summer. There are currently five entities in the third stage of the competition:. Santander, Apollo, Fosun, Anbang Insurance and Cerberus

(updated news to 16:33)