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Portugal: Fosun's takeover of Caixa Seguros set for completion in June 2014

March 24, 2014 - 6:33am


The acquisition of Portuguese insurer Caixa Seguros e Saude S.A. by China-based Fosun International Ltd. is expected to be completed by the end of June 2014, Dinheirovivo.pt reports.

Fosun is paying €1 billion ($1.4 billion) to acquire an 80% stake in the insurer, a unit of Portuguese state-controlled bank Caixa Geral de Depositos S.A.

The insurer will continue to be associated with the bank for insurance distribution.

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