Espirito Santo Financial Group SA (BDL:001190440) has put Companhia de Seguros Tranquilidade, S.A. on the block. El Economista reported that Espirito Santo Financial is testing the interest of Spanish companies. According to sources familiar with the matter, Espirito Santo Financial sent an offer to a number of companies a few weeks ago.

El Economista reported citing Portuguese newspaper Jornal de Negócios as mentioning that a possible sale could bring in €358 million. It further added that Espirito has considered disposing Tranquilidade in the past, but the sources said there is now real interest to monetize the asset in its entirety or a significant part of its capital.