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Credit Agricole SA and Espirito Santo Financial Group SA dissolve BESPAR

Friday, 16 May 2014 04:55am EDT 

Credit Agricole SA:Espirito Santo Financial Group SA (ESFG) and Credit Agricole SA announce the dissolution and division of assets held at BESPAR - Sociedade Gestora de Participacoes Sociais, SA (BESPAR).This holding company was incorporated in 1991 for purpose of participating in privatisation of Banco Espirito Santo SA (BES).Following dissolution of BESPAR, ESFG now holds, directly and indirectly, a 27.36 pct stake in BES and Credit Agricole SA Group holds 20.12 pct.Credit Agricole SA Group sold to Companhia de Seguros Tranquilidade S.A. 10.0 pct of the share capital of ESAF-Espirito Santo Activos Financeiros, SGPS, S.A., and 50.0 pct of BES, Companhia de Seguros, S.A.Credit Agricole SA Group therefore shall cease to be a shareholder in these companies.