Macquarie Buys Stake in Portugal Hospital Group for €310 Million

Macquarie Group Ltd. has agreed to buy a 40% stake in Portuguese hospital operator Luz Saude SA for €310 million ($361 million), marking the Australian group’s latest push into Europe’s growing private healthcare sector.

Macquarie will acquire the stake from Fidelidade-Companhia de Seguros SA, a Portuguese insurer controlled by Chinese conglomerate Fosun International Ltd. The deal values one of Portugal’s largest private hospital groups at more than €1.1 billion including debt, Fidelidade said in an emailed statement. Fidelidade paid around €460 million for a 96% stake in the group in 2014.

“The completion of the transaction is expected for ...