…ad more>> Fosun Nears Deal to Sell Stake in Nanjing Iron & Steel for $2.1B Fosun International, the owner of the Club Med chain of resorts, is reportedly selling its stake in Nanjing Iron & Steel for 15 billion yuan (US$2.1 billion), as the heavily indebted group seeks to raise cash to trim its borrowings. Fosun is selling its assets in Nanjing Iron & Steel to Jiangsu Shagang Group, according to a source close to the deal. The two sides are finali…
Search Results for: fosun
CapitaLand India Trust Launches Office Platform and More Asia Real Estate Headlines
…e drop took the index to its lowest level since December 2017. Read more>> Fosun to Raise $561M From Mining Sale Stake as Part of Asset Sell-Down China’s Fosun International said Monday that it would raise $561 million by selling part of its shares in Zhaojin Mining Industry Co as part of its ongoing string of asset sell-downs. The company, through one of its units, is offloading 654.1 million Zhaojin Mining shares for HK$6.72 ($0.86) each, a 1.8…
China Home Prices in Steepest Fall Since 2015 and More Asia Real Estate Headlines
…Stake Thomas Cook has pushed back against reports that its Chinese owner, Fosun Tourism Group, is looking to sell its stake in the company. “Fosun Tourism Group has no plans to sell Thomas Cook,” a Thomas Cook representative told City A.M. Sources told Sky News’ Mark Kleinman that the Chinese company was contemplating either raising capital from external investors or selling the business directly. Read more>> Indian Singer Shael Oswal Sells Sento…
Asia Real Estate People in the News 2022-12-26
…well as having previous experience with the company’s Snow Beer division. Fosun Tourism announced to the Hong Kong stock exchange on 22 December that He Jianmin, now 65, has been appointed as an independent, non-executive director on the board of the unit of Shanghai’s Fosun Group from 19 December. Currently a professor of tourism management with the College of Business at the Shanghai University of Finance and Economics, He has more than 20 year…
Sogo’s Tsim Sha Tsui Branch Closing Down in March and More Asia Real Estate Headlines
…ey Subsidiary Is Close to Securing a $1.8 Billion Loan A key subsidiary of Fosun International, one of China’s largest private conglomerates, is close to securing a long-awaited credit line from some of the nation’s biggest state-owned banks, people familiar with the matter said. Shanghai Fosun High Technology Group is in advanced talks for an onshore loan totalling RMB 12 billion ($1.8 billion) with lenders led by Industrial and Commercial Bank o…
Seasonal Lull Thumps Singapore Condo Resales and More Asia Real Estate Headlines
…oks to Club Med Resorts Recovery After Profit Warning Chinese conglomerate Fosun International is hoping its vacation business segment will pull it out of a slump. Fosun, which owns the Club Med chain of resorts and the Thomas Cook brand, issued a warning on 20 January, saying profit for the year ended 31 December 2022 was expected to decrease by 80 percent compared with the year before. Read more>> Tune in again soon for more real estate news and…
China Home Sales Show Turnaround Potential and More Asia Real Estate Headlines
…dia. Read more>> Fosun to Sell 60% Stake in Nanjing Nangang for Nearly $2B Fosun International will sell its 60 percent stake in Nanjing Nangang Iron & Steel United Co Ltd to steel manufacturer Jiangsu Shagang Group for RMB 13.58 billion ($1.98 billion), the Chinese conglomerate said Tuesday. The divestment, which was first announced last October, will see Fosun dispose of its stake in Nanjing Nangang, held via its subsidiaries, to realise a gain…
Canada’s CDPQ Reportedly Closing Shanghai Office and More Asia Real Estate Headlines
…ead more>> Fosun Outlook Raised to Stable by S&P After Debt Pared by $3.4B Fosun International had its credit rating outlook revised to stable from negative by Standard & Poor’s after the Chinese conglomerate reduced its debt by RMB 24 billion ($3.4 billion). Fosun raised more than RMB 30 billion from asset sales last year, S&P said. That helped the Shanghai-based company repay all of its maturing bonds in the past three quarters and cut its debt…
Mercatus Said Selling Singapore Retail Assets and More Asia Real Estate Headlines
…Luz Saude, a Portuguese hospital operator ultimately controlled by China’s Fosun International Ltd., received approval from shareholders of its parent company to carry out a potential initial public offering. Stockholders of insurer Fidelidade, the Fosun unit that holds Luz Saude, approved the plan at a meeting on Friday, a Fidelidade spokesman said. The company will meet with banks advising on a listing in mid-January and, if it decides to procee…
Apple Eyes New Stores in Two Chinese Cities – and more of Today’s China Real Estate Links | June 7, 2012
…a Shanghai court in a lawsuit initiated by the Shanghai-based conglomerate Fosun Group over a premium piece of land. Soho recently bought a 50% stake in a land project in Shanghai from units of Fosun’s former partners Greentown China Holdings Ltd. 3900.HK +6.02% and Shanghai Zendai Property Ltd. 0755.HK +1.74% for 4 billion Chinese Yuan dollars ($628 million). China’s Housing Ministry reaffirms property cooling policy China’s main real estate regu…
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