Benacerraf family, Cohen family and other investors signed an agreement to acquire 99.99% stake in Espírito Santo Bank, S.A. from Banco Espírito Santo, S.A. (OTCPK:BKES.F) for $10 million on April 30, 2015. The transaction is still subject to regulatory approval. The proceeds from the sale will go to Banco Espírito for its liquidation. The transaction is expected to close in 12 months. Thomas Rudkin of FIG Partners, LLC acted as financial advisor for Banco Espírito Santo. Manuel Magalhães of Servulo & Associados acted as legal advisor for Banco Espírito Santo. Bryan Wells and Kimberly of Shutts & Bowen LLP acted as legal advisor for Banco Espírito Santo. Alcides Avila, Asnardo Garro, and Javier Alvarez of Avila Rodriguez Hernandez Mena & Ferri LLP represented the Benacerraf and Cohen Families and other investors. Benacerraf family, Cohen family and other investors cancelled the acquisition of 99.99% stake in Espírito Santo Bank, S.A. from Banco Espírito Santo, S.A. (OTCPK:BKES.F) on April 21, 2017.