Espirito Santo Financial Suspends Shares, Bonds on ESI Exposure

Espirito Santo Financial Group SA, which owns 25 percent of Portuguese lender Banco Espirito Santo SA, said it decided to suspend its shares and listed bonds on the Luxembourg and Euronext exchanges due to its exposure to Espirito Santo International SA.

“Due to ongoing material difficulties at its largest shareholder Espirito Santo International and ESFG’s exposure to that company, ESFG has decided to suspend its shares and listed bonds, including the bond issued by its fully-owned subsidiary Espirito Santo Financiere SA,” ESFG said today in a filing posted on the Portuguese securities regulator’s website. “ESFG is currently assessing the financial impact of its exposure to ESI.”