BES says appoints Deutsche Bank to advise on bank structure

LISBON, July 22 Tue Jul 22, 2014 1:20pm EDT

LISBON, July 22 (Reuters) - Banco Espirito Santo, Portugal's largest listed bank, said on Tuesday it has hired Deutsche Bank to advise it on improving its balance sheet structure.

The bank also said U.S. investment firm D.E. Shaw acquired a 2.7 percent long position in the bank's shares through equity swaps on July 14.

Neither D.E. Shaw nor BES were immediately available to comment.

(Reporting By Axel Bugge and Laura Noonan)