May 7, 2019 / 5:40 PM / a month ago

Brazil healthcare firm Hapvida to buy rival São Francisco for $1.26 bln -source

SAO PAULO, May 7 (Reuters) - Brazilian healthcare company Hapvida Participacoes e Investimentos SA has reached an agreement to acquire rival group São Francisco Saúde for 5 billion reais ($1.26 billion), a source with knowledge of the matter said.

Hapvida, which is likely to announce the deal later on Tuesday, will use nearly 3 billion reais in cash to fund the deal and will also issue debt. Brazilian financial blog Brazil Journal had reported earlier about the deal. ($1 = 3.9819 reais) (Reporting by Carolina Mandl; Editing by Bernadette Baum)

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