Banco Espírito Santo de Investimento (BESI) is expected to be sold to Chinese company Haitong International Securities, and the deal is now awaiting the approval of the Bank of Portugal and the European authorities, according to Portuguese newspaper Público.
The newspaper said that the purchase of BESI is likely to cost the Chinese group around 500 million euros.
According to the rules regulating the Resolution Fund of Novo Banco, which owns 100 percent of BESI, all transactions of more than 100 million euros must be approved by the supervisor prior to going ahead.
Listed on the Hong Kong stock exchange, Haitong International Securities Company Limited is a subsidiary of Haitong International group for the finance sector. (macauhub/CN/PT)