Chinese company Haitong International Holdings signs deed of purchase for Portugal’s BESI

7 September 2015

The deed of sale of Portuguese investment bank Banco Espírito Santo de Investimento (BESI) to Chinese group Haitong Securities is due to take place Monday in Lisbon following negotiations that began on 7 December, 2014, the Portuguese press reported.

The sale of the bankrupt investment bank of the Espirito Santo Group to the Chinese group will provide Novo Banco, the bank that inherited the healthy assets of the failed Banco Espirito Santo, with a cash inflow of 445 million euros.

The sale of Banco Espírito Santo de Investimento can only be formalised following the endorsement of nine entities, including the Bank of Portugal, the Competition Authority, the regulator of China and Brazil and the European Central Bank.

According to information disclosed in Lisbon, during the first half of BESI’s management paid particular attention to “obtaining permits from various regulatory authorities,” a process that has been completed with the signing of the purchase and sale deed. (macauhub/CN/PT)