Portugal: Chinese snap up health company

The takeover bid launched by Portuguese insurance company Fidelidade (owned by the Chinese firm Fosun) to buy out health company Espírito Santo Saúde (ESS) managed to snap up 96 pct of ESS share capital, the Portuguese stock market announced on Wednesday.
“We are very pleased with the results of this operation. We have bought a great company”, Fidelidade president Jorge Magalhães Correia said at a special bourse session to present the results of the takeover.
The board of directors of ESS said on Monday that the price of €5.01 being offered was “acceptable” Last Friday, Rioforte, the Grupo Espírito Santo (GES) holding company that owned a majority of the ESS capital via Espírito Santo Health Care Investments, said it had agreed to sell its 51% stake to Fidelidade for €5.01 a share. Lusa

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