July 31, 2019 / 8:29 AM / 17 days ago

Italy's CIR healthcare unit to buy Germany's Charleston

July 31 (Reuters) - Italian holding company CIR’s healthcare unit KOS has signed an agreement to buy 100% of German nursing home company Charleston for 90 million euros ($100 million), CIR said on Wednesday.

CIR said that the acquisition, which will increase KOS’s managed facilities to 132 from 85, is a first step towards a potential expansion in the German market.

KOS will fund the acquisition, which it expects to close by the end of October, with credit lines already available to the company.

$1 = 0.8969 euros Reporting by Silvia Recchhimuzzi in Gdynia; editing by Valentina Za

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