LISBON Nov 20 Portugal's largest bank,
state-owned Caixa Geral de Depositos, has agreed to sell its
healthcare arm HPP to Brazil's Amil, a unit of U.S.
UnitedHealth Group, for 85.6 million euros ($109.7
In a statement issued late on Monday, CGD said the value of
the deal covered HPP's debt, which it did not specify.
HPP has seven hospitals in Portugal employing about 4,000
health workers. Amil is Brazil's largest health insurer and
Next year, CGD plans to proceed with the sale of its
insurance arm Caixa Seguros - the leader in the country's
The sale of the two units was agreed between Portugal and
its EU/IMF lenders under the terms of a 78-billion euro bailout
in 2011. Debt-laden Portugal is going through a painful fiscal
adjustment that has stoked its worst recession since the 1970s.