Macquarie to Buy Stake in Portuguese Hospital Group Luz Saude

Macquarie Group Ltd. is set to buy a minority stake in Portuguese hospital operator Luz Saude SA, outbidding rivals CVC Capital Partners Plc and KKR & Co., according to people familiar with the matter.

Sydney-based Macquarie agreed to purchase about 40% of Luz Saude from Fidelidade-Companhia de Seguros SA, a Portuguese insurer controlled by Chinese conglomerate Fosun International Ltd, said the people, who asked not to be named because the information is confidential. The deal could be signed in the coming days and would give Luz Saude an enterprise value of more than €1 billion, one of the people said.