Fosun acquires 80% of the insurance activity of the Portuguese group Caixa Geral de Depósitos (CGD)

With its offer of 1.32 billion USD, Fosun has won the bid issued for the sale of the insurance activity of CGD, a Portuguese public banking group.

The offer of the conglomerate was chosen not only for its financial contribution, but also for its "strategic project that preserves the unity of the group" and supports its expansion in emerging countries, according to the Portuguese Secretary of State for Finance.