Asia real estate and outbound investment news
Chinese conglomerate Fosun International Ltd (0656.HK), which is rapidly becoming one of China’s leading global investors, today reassured investors that it has adequate cash to finance its proposed 1 billion euro purchase of Portuguese insurer Caixa Seguros e Saude.
The company also indicated that it will continue to look for investment opportunities outside of China.
Chinese conglomerate Fosun International Ltd. picked up Portuguese insurance firm Caixa Seguros e Saude this week for 1 billion euros ($1.36 billion), marking one of the biggest overseas investments in the finance sector to date by a Chinese investor.
In a sign of China’s growing economic clout, Fosun bested U.S. buyout firm Apollo Management International LLP to acquire the insurance arm of Portugal state bank Caixa Geral de Depositos SA
