Hapvida Said to Seek Up to BRL2 Billion for Southern Assets

Hapvida Participacoes e Investimentos SA is seeking as much as 2 billion reais ($398 million) from the sale of its operations in southern Brazil, according to a person familiar with the matter, as the health-care corporation looks to pare down its debt.

The company, one of the largest health insurers and hospital operators in Brazil, estimates the business is worth between 1.5 billion and 2 billion reais, said the person, who asked to remain anonymous discussing private business. Hapvida has about 600,000 insurance beneficiaries in the region.