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Portugal sells state insurance to Chinese

10.01.14 @ 09:05

  1. By EUOBSERVER

Portugal will sell off the insurance arm of state bank Caixa Geral de Depositos for €1bn to Chinese Fosun as part of privatisations agreed in return for receiving financial aid from the EU and IMF. The new sale brings the Portuguese privatisation revenues to €8.1bn, 47 percent above its goal.