Practice Areas - Corporate and M&A Law Firms and Lawyers
| Deal Date: | 12-02-2014 | Practice Area: | Corporate and M&A |
| Deal Title: | Fosun International Purchase of Fidelidade, Portugal | Industry: | Nonlife Insurance |
| Description: |
DLA Piper today announces that it acted for long-standing client Fosun International Limited on the majority acquisition of the largest insurer in Portugal for around EUR1 billion.
Fosun will acquire up to 85% of the share capital and voting rights of Fidelidade Companhia de Seguros, S.A., 80% of the share capital and voting rights of Multicare Seguros de Saude, S.A., and 80% of the share capital and voting rights of Cares Companhia de Seguros, S.A. (altogether,Fidelidade), all of which are wholly-owned subsidiaries of Caixa Seguros e Saude, SGPS, S.A, the insurance arm of a state-owned bank Caixa Geral de Depositos, S.A. (CGD) in Portugal. CGD is the largest bank in Portugal and Fidelidade is the largest insurance company in Portugal.
The deal was led by Paul Chen (Corporate, DLA Piper, USA) and Wu Sheng (Corporate, DLA Piper, Hong Kong).
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| Financial Center: | Silicon Valley | Value: | 1000.01-5000.00 |
| Advised Party: | Private Equity Investor | Law Firm | DLA Piper |
| Target Company Jurisdiction | Portugal | Acquiror Jurisdiction | China |
| Classification: |
Financial Buyer Acquisitions Primary Buy-Out |
Lawyer | Paul P Chen |
