Fosun Becomes Largest Shareholder In Portugal’s Largest Bank
Fosun has acquired 16.7% of Millennium BCP, making it the biggest shareholder in the largest listed bank in Portugal where it already owns the largest insurer. This deal is one of the most significant acquisitions by Chinese groups who have pumped in money to buy stakes in the electricity generation, national grid, insurance, hospitals, water and other sectors.
“Fosun has acquired 16.7% of Millennium BCP, making it the biggest shareholder in the largest listed bank in Portugal.”
While the number of acquisitions by Chinese company have caused discomfort in countries like Germany, Portuguese companies and government have welcomed them as means of helping businesses with capital and debt problems after the country was bailed out in 2014.
About Fosun International
Fosun was founded in 1992 in Shanghai. Fosun International (00656.HK) was listed on the Main Board of the Hong Kong Stock Exchange on July 16, 2007.
Over the last two decades, Fosun has evolved from an entrepreneurial start-up into a leading investment group taking roots in China with a global foothold. Fosun has been actively implementing its investment model of “Combining China’s Growth Momentum with Global Resources” and adhering to its “value-investing” discipline, aspiring to becoming a world-class investment group underpinned by the twin drivers of “insurance-oriented integrated financial capability” and “global industrial integration capability taking roots in China”.
Along with the “insurance + investment” twin-driver core strategy, Fosun’s ultimate vision is to provide clients with one-stop solution integrating wealth, health and happiness.
Visit: Fosun International
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