PHAROL, SGPS, S.A., as timely informed, has a credit over Rio Forte S.A. ('in Insolvency') for the amount of 897 million euros, which has been duly claimed with the insolvency receivers in Luxembourg.

PHAROL, SGPS, S.A. has been made aware today of a notice from the receivers of Espírito Santo International S.A. ('in Insolvency'), in which the receivers declare that such insolvent entity will file a court action against PHAROL, SGPS, S.A. claiming from PHAROL, SGPS, S.A. the reimbursement of 750 million euros, but do not disclose the reasons for such request.

​PHAROL, SGPS, S.A., does not owe any amounts to Espírito Santo International, S.A. ('in Insolvency') and thus will wait to be notified of the announced court action in order to answer and exercise all PHAROL, SGPS, S.A. stakeholders' protection rights.​​​​

Pharol SGPS SA published this content on 14 November 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 14 November 2017 21:29:01 UTC.

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