China’s Fosun International joins race to buy Portuguese healthcare firm ES Saude

25 September 2014

Fosun International, part of China’s Fosun Group, has made a bid to buy Portuguese healthcare company Espírito Santo Saúde SGPS (ES Saude) for 451 million euros (US$580 million), financial news agency Bloomberg reported.

In a statement filed with the Hong Kong Stock Exchange, the Chinese company said it it was offering 4.72 euros per share of ES Saude, a company that manages hospitals, clinics and nursing homes in Portugal.

Fosun International joins Mexican group Angeles Servicios de Salud, which on 19 September announced an offer of 4.50 euros per share of ES Saude and Portuguese company José de Mello Saúde SGPS,w hich on 11 September made an offer of 4.40 euros per share.

The Chinese company, which is listed on the Hong Kong Stock Exchange in January acquired an 80-percent stake in the insurance arm of Portuguese state financial group Caixa Geral de Depósitos (CGD), Caixa Seguros. (macauhub/CN/PT)