China: Fosun to purchase U.S. insurer Meadowbrook for $433 million
Posted On: Dec. 31, 2014 12:00 AM CSTChina's Fosun International Ltd. is set to purchase U.S.-based Meadowbrook Insurance Group Inc. for around $433 million, reports Reuters.
"This transaction allows Fosun to establish a presence in the important U.S. property/casualty market," Fosun chairman Guo Guangchang said. The deal is likely to be closed in the second half of 2015. Meadowbrook's headquarters would remain in the U.S. state of Michigan.