Baupost Group Exits Banco Espirito Santo Investment

Portugal’s troubled Banco Espirito Santo SA (ELI:BES) is suffering a lot of hurt these days. Based on filings from the Portuguese regulatory website CMVM, BES has now said goodbye to one of its most touted shareholders, Seth Klarman’s Baupost Group. Also see: FutureAdvisor Offers Asset Management Services In A Low-Fee World Baupost subsidiary Baros S.a.r.l. acquired 2.15% of BES Baros S.a.r.l., a wholly owned subsidiary of Baupost Group, acquired 2.15% of BES or 120,725,000 shares, from a combination of Baupost partnerships on July 28. Two days later, on July 31st, Baros had sold the entire stake of 120.7 million shares, thus effectively…