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Enough cash to fund insurance deal: Fosun

Published Wed, Jan 22, 2014 · 10:00 PM
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[SHANGHAI] Chinese conglomerate Fosun International Ltd reassured investors yesterday that it has enough cash on hand to fund the one billion euro (S$1.7 billion) purchase of the insurance arm of a Portuguese state bank and it will continue to buy foreign assets to expand its overseas reach.

Rating agency Moody's Investors Service has put Fosun's debt under review for a possible downgrade, citing uncertainties over its funding plan for the purchase of the insurance unit of Caixa Geral de Depositos SA which comes after a series of investments la…

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