Fosun pays $1.36b to buy Portugese insurer Caixa
China's Fosun International has acquired an 80% stake in Caixa Seguros e Saúde (CSS), the insurance unit of Portugese state bank Caixa Geral de Depositos SA for EUR1 billion ($1.36 billion), beating out Apollo Management International.
Portugal is selling the company as a condition of a EUR78 billion European Union bailout, which requires the government to dispose of assets and raise revenue. Fosun International - the investment arm...
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