SC 13D/A 1 sc13da2-espirito.txt AMENDMENT NO. 2 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D (Amendment No. 2) Under the Securities Exchange Act of 1934 ESPIRITO SANTO FINANCIAL GROUP S.A. ----------------------------------- (Name of Issuer) ORDINARY SHARES (NOMINAL VALUE EURO 10 PER SHARE) --------------------------------- (Title of Class of Securities) 29665F 20 0 ----------- (CUSIP Number) Raphael M. Russo, Esq. Paul, Weiss, Rifkind, Wharton & Garrison LLP 1285 Avenue of the Americas New York, New York 10019-6064 (212) 373-3000 (Name, Address and Telephone Number of -------------------------------------- Person Authorized to Receive Notices and Communications) JULY 23, 2003 ------------- (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Sections 13d-1(e), 13d-1(f) or 13d-1(g), check the following box: [_] Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 240.13d-7(b) for other parties to whom copies are to be sent. *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 (the "EXCHANGE ACT") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). This document consists of 9 pages 2 CUSIP NO. 29665F 20 0 -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON EXOR S.A. -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [_] -------------------------------------------------------------------------------- 3 SEC USE ONLY -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) [_] -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION FRANCE -------------------------------------------------------------------------------- NUMBER OF SHARES 7 SOLE VOTING POWER BENEFICIALLY OWNED BY EACH REPORTING - 0 - PERSON WITH ---------------------------------------- 8 SHARED VOTING POWER 2,150,297 ---------------------------------------- 9 SOLE DISPOSITIVE POWER - 0 - ---------------------------------------- 10 SHARED DISPOSITIVE POWER 2,150,297 -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,150,297 -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.49% -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON CO -------------------------------------------------------------------------------- 3 CUSIP NO. 29665F 20 0 -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON EXOR GROUP SOCIETE ANONYME -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [_] -------------------------------------------------------------------------------- 3 SEC USE ONLY -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) [_] -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION LUXEMBOURG -------------------------------------------------------------------------------- NUMBER OF SHARES 7 SOLE VOTING POWER BENEFICIALLY OWNED BY EACH REPORTING - 0 - PERSON WITH ---------------------------------------- 8 SHARED VOTING POWER 2,150,297 ---------------------------------------- 9 SOLE DISPOSITIVE POWER - 0 - ---------------------------------------- 10 SHARED DISPOSITIVE POWER 2,150,297 -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,150,297 -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.49% -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON CO -------------------------------------------------------------------------------- 4 CUSIP NO. 29665F 20 0 -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON ISTITUTO FINANZIARIO INDUSTRIALE S.P.A. -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [_] -------------------------------------------------------------------------------- 3 SEC USE ONLY -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) [_] -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION ITALY -------------------------------------------------------------------------------- NUMBER OF SHARES 7 SOLE VOTING POWER BENEFICIALLY OWNED BY EACH REPORTING - 0 - PERSON WITH ---------------------------------------- 8 SHARED VOTING POWER 2,150,297 ---------------------------------------- 9 SOLE DISPOSITIVE POWER - 0 - ---------------------------------------- 10 SHARED DISPOSITIVE POWER 2,150,297 -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,150,297 -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.49% -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON CO -------------------------------------------------------------------------------- 5 CUSIP NO. 29665F 20 0 -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON GIOVANNI AGNELLI E C. S.A.P.AZ. -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [_] -------------------------------------------------------------------------------- 3 SEC USE ONLY -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) [_] -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION ITALY -------------------------------------------------------------------------------- NUMBER OF SHARES 7 SOLE VOTING POWER BENEFICIALLY OWNED BY EACH REPORTING - 0 - PERSON WITH ---------------------------------------- 8 SHARED VOTING POWER 2,150,297 ---------------------------------------- 9 SOLE DISPOSITIVE POWER - 0 - ---------------------------------------- 10 SHARED DISPOSITIVE POWER 2,150,297 -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,150,297 -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.49% -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN -------------------------------------------------------------------------------- 6 AMENDMENT NO. 2 TO SCHEDULE 13D This Amendment No. 2 amends the Schedule 13D, dated November 22, 1995 (as amended by Amendment No. 1, dated January 22, 1997, the "Original Statement"), with respect to the Ordinary Shares, nominal value euro 10 per share (the "Ordinary Shares"), of Espirito Santo Financial Group S.A., a Luxembourg corporation (f/k/a Espirito Santo Financial Holding S.A., the "Issuer"). Capitalized terms not otherwise defined herein shall have the meanings ascribed thereto in the Original Statement. As a result of the sale of the Ordinary Shares described herein, this Amendment No. 2 constitutes the final amendment to the Original Statement. The information set forth in the Original Statement is hereby amended as follows: ITEM 1. SECURITY AND ISSUER. Item 1 is amended and restated in its entirety as follows: This Schedule 13D relates to the Ordinary Shares, nominal value euro 10 per share, of the Issuer. The principal executive offices of the Issuer are located at 231, Val des Bons-Malades, L-2121 Luxembourg-Kirchberg. ITEM 2. IDENTITY AND BACKGROUND. Item 2 is amended and restated in its entirety as follows: (a)-(c); (f). This Statement is being filed by: (i) EXOR S.A. ("Buyer"); (ii) EXOR GROUP Societe Anonyme ("EXOR"); (iii) Istituto Finanziario Industriale S.p.A. ("IFI"); and (iv) Giovanni Agnelli e C. S.a.p.az. (f/k/a Giovanni Agnelli e C. S.a.a., "GA") (all such persons in (i) through (iv) being hereinafter referred to as the "Reporting Persons"). Buyer is a corporation organized under the laws of France. The address of its principal business and principal office is 19 Avenue Montaigne, 75008 Paris, France. The present principal business activity of Buyer is to invest and hold participations in selected sectors and industries through substantial direct and indirect equity participations in companies generally based in Europe that have a leading position in their respective sectors and industries. EXOR controls Buyer through the ownership of 100.0% of Buyer's voting stock. EXOR is a corporation organized under the laws of Luxembourg. The address of its principal business and principal office is 22-24 Boulevard Royal, L-2449 Luxembourg. The present principal business activity of EXOR is to invest and hold participations in selected industries through substantial direct or indirect equity 7 participations in companies that have a leading position in their respective industries. EXOR is deemed to be controlled, for purposes of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), by IFI and GA. IFI is a corporation organized under the laws of Italy. The present principal business activity of IFI is as a holding company providing financial and organizational assistance to the companies in which it has a direct or indirect controlling interest. Such companies include EXOR and a wide variety of companies involved in diverse areas of business. The address of IFI's principal business and principal office is Corso Matteotti 26, 10121 Turin, Italy. IFI is deemed to be controlled, for purposes of the Exchange Act, by GA. GA is an Italian limited partnership represented by shares. The present principal business activity of GA is to ensure the cohesion and continuity of the management of its controlling interest in IFI. The address of GA's principal business and principal office is Via del Carmine 10, 10122 Turin, Italy. GA is deemed to be controlled, for purposes of the Exchange Act, by its General Partners, Messrs. Umberto Agnelli, Gianluigi Gabetti, John Philip Elkann and Alessandro Giovanni Nasi. Attached as Schedule A hereto and incorporated by reference herein is a list of (i) all executive officers and directors of each Reporting Person which is a corporation, (ii) all general partners of each Reporting Person which is a partnership, (iii) all persons controlling any of the foregoing (to the extent not provided herein) and (iv) all executive officers and directors of any corporations ultimately in control of any of the foregoing. Such Schedule A also sets forth the address, principal occupation or employment and, with respect to natural persons, citizenship of each person listed thereon. (d) and (e). During the past five years, none of the Reporting Persons (or, to the knowledge of the Reporting Persons, any of the persons listed on Schedule A hereto) has been convicted in any criminal proceeding (excluding traffic violations or similar misdemeanors) or have been parties to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining further violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER. Item 5 is amended and restated in its entirety as follows: (a) As of the close of business on July 23, 2003, Buyer owned directly 2,150,297 Ordinary Shares, of which 1,306,700 represent ADSs of the Issuer, representing 4.49% of the outstanding Ordinary Shares. Because of their deemed control of Buyer, each of the other Reporting Persons may be deemed to beneficially own all of the Ordinary Shares owned of record by Buyer. 8 To the knowledge of the Reporting Persons, none of the persons listed in Schedule A hereto owns beneficially any Ordinary Shares. (b) The responses to Items 7-10 of pages 2-5 of this statement are incorporated herein by reference. (c) On July 23, 2003, Buyer sold 380,000 ADSs of the Issuer at a price per share (excluding commissions) of $16.55. The sale was effected on the New York Stock Exchange as a block sale. In the past sixty days, the Reporting Persons have not effected any other transactions involving the Ordinary Shares. (d) To the knowledge of the Reporting Persons, no other person has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, any Ordinary Shares that may be deemed to be beneficially owned by the Reporting Persons. (e) As a result of the sale described in paragraph (c) of this Item 5, the Reporting Persons ceased to be the beneficial owners of more than five percent of the Ordinary Shares on July 23, 2003. 9 SIGNATURE After reasonable inquiry and to my best knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: July 25, 2003 EXOR S.A. By: * --------------------------------------- Richard S. Borisoff Attorney-in-Fact EXOR GROUP Societe Anonyme By: * --------------------------------------- Richard S. Borisoff Attorney-in-Fact Istituto Finanziario Industriale S.p.A. By: * --------------------------------------- Richard S. Borisoff Attorney-in-Fact Giovanni Agnelli e C. S.a.p.az. By: * --------------------------------------- Richard S. Borisoff Attorney-in-Fact /s/ Richard S. Borisoff -------------------------------------------- *Richard S. Borisoff Attorney-in-Fact SCHEDULE A ----------

EXOR SA SC 13D/A