Fosun to Double Its Stake in Portuguese Bank

By Yang Ge

(Beijing) — Globally minded private equity firm Fosun International said on Tuesday it will nearly double its stake in a leading Portuguese bank to as much as 30%, aiming to expand the European lender’s services to China and other developing markets.

Fosun will accomplish its stake increase by purchasing more stock in Banco Comercial Portuges (BCP), which also goes by the name Millennium BCP, through a share rights plan, according to a Fosun statement to the Hong Kong Stock Exchange.

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