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BES says appointing financial adviser
July 21, 2014 / 8:02 AM / in 3 years

BES says appointing financial adviser

LISBON, July 21 (Reuters) - Banco Espirito Santo (BES) said on Monday it was finalizing the appointment of a financial adviser to boost the bank’s “balance sheet structure.”

BES said in a statement that it is “finalizing the appointment of a recognised international financial institution as specialized financial adviser to assess the opportunities to optimize its balance sheet structure.”

BES has seen its shares slump in recent weeks on concerns that its capital will be eroded by large debts at the bank’s founding family. One of the Espirito Santo family holding company’s - ESI - filed for creditor protection in Luxembourg on Friday.

Reporting By Axel Bugge

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