Global Market
Fosun offers $580m for Espírito Santo Saúde
Financial Times23.09.2014Read original
Chinese Conglomerate Fosun further expands its asset portfolio in Portugal by acquiring ES Saude, the Portuguese Hospital operator. Fosun’s appetite for Portuguese assets is on the rise.
Fidelidade, the Portuguese insurer and a Fosun subsidiary, is offering €4.72 a share for the healthcare business, according to a statement to the Hong Kong stock exchange on Tuesday. The bid represents a premium of 31 per cent above the average share price over the previous six months, Fosun said. Shares in ESS closed at €4.70 in Lisbon on Monday.
(…) Shares in Fosun International– the listed unit through which Shanghai-based Fosun Group typically makes overseas acquisitions – dropped 1.9 per cent in Hong Kong trading after the announcement but recovered to close 0.3 per cent lower at HK$9.74.
Fosun took control of Fidelidade, Portugal’s largest insurer, this year in a €1bn deal that signalled its intention to build a long-term international presence.
The Portuguese media reported that Fosun recently expressed told the Board of the Port of Lisbon that it was interested in investing in the capital’s port activity, particularly in the exploration of the future container terminal in Barreiro and future marina on the Tagus River.
Alongside this Fosun has been investing in shares of national power grid company Redes Energéticas Nacionais (REN), whose main shareholder is China State Grid, and now owns 5 percent of the company.
