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Grupo Angeles calls off Portugal purchase

Wednesday, October 1, 2014

Mexican medical firm Grupo Ángeles has withdrawn its $541-million offer to acquire Portugal's Espirito Santo Saude.

Grupo Ángeles said it cancelled its offer after China's Fosun made a better offer for the Portuguese firm.

Espirito Santo needs to sell shares after requesting bankruptcy protection in July due to a large debt.

Source (in Spanish): Reuters