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Fosun International Ltd announces winning bid for insurance companies of portugal

Thursday, 9 Jan 2014 05:11pm EST 

Fosun International Ltd:Says on Jan. 09, it has been notified that it has won the bid for the proposed acquisition of 80 pct of the share capital and voting rights of Fidelidade Companhia de Seguros, S.A, Multicare Seguros de Saúde, S.A., and Cares Companhia de Seguros, S.A. (the Insurance Companies).Says all thses insurance companies are subsidiaries of Caixa Seguros e Saúde, SGPS, S.A.(CSS), the insurance arm of a state-owned bank Caixa Geral de Depósitos, S.A. in Portugal, for an aggregate consideration of 1 bln Euro (the acquisition).Says in addition ,it will also acquire shares representing up to 5 pct of the share capital and voting rights of Fidelidade at the same price it has paid for shares of Fidelidade in the acquisition.Says the parties concerned will enter into the sale and purchase agreement in about 30 days from the date of this announcement. 

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