Portugal Takes Over Banco Espirito Santo in $6.6 Billion Bailout

Portugal’s central bank took control of Banco Espirito Santo SA, once the country’s largest lender by market value, in a 4.9 billion-euro ($6.6 billion) bailout that will leave junior bondholders with losses. The Bank of Portugal’s Resolution Fund will own the renamed the lender, Novo Banco, whil…

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Portugal Takes Over Banco Espirito Santo in $6.6 Billion Bailout

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