Fosun chosen to buy Portugal's insurer
(Xinhua) Updated: 2014-01-10 10:46
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Fosun International acquired One Chase Manhattan Plaza in New York in October,2013.[Photo/people.com.cn] |
Fosun beat American company Apollo Management International, the only other bidder, and will pay 1 billion euros ($1.36 billion) for the stake, Secretary of State of Finance Manuel Rodrigues told reporters.
The decision was announced earlier in the day at the council of ministers meeting.
Caixa Seguros is Portugal's largest insurance group and has a 26 percent share of the country's insurance market.
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