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Fosun to raise bid for Greek insurer

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Fosun to raise bid for Greek insurer

China-based insurer Fosun International Ltd. plans to make another bid to purchase a majority stake in Greece-based rival The Ethniki Hellenic General Insurance Co. S.A., Ekathimerini.com reported. Fosun had previously offered €620 million ($763 million) to buy a 75% stake in Ethniki. The National Bank of Greece S.A., Ethniki's parent, has given Dutch investment manager Exin Holding B.V. a deadline of March 28 to raise the necessary €718 million to complete the deal.

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