…and curates the day’s biggest stories for you. Here’s what we found today: Fosun’s Guo Guangchang Reappears – Then Vanishes Again Following a weekend of speculation about one of China’s most famous businesses executives, billionaire Guo Guangchang resurfaced briefly Monday but without making clear the status of an investigation that led to his disappearance late last week. Mr. Guo appeared Monday morning to address a previously scheduled strategy…
Search Results for: fosun
Fosun Said Bidding to Take Over AC Milan and More Asia Real Estate Headlines
…uangchang could end up owning two European football clubs Guo Guangchang’s Fosun, one of China’s biggest property investors, is expanding its portfolio into sports teams, as the Shanghai-based firm is said to be seeking to acquire AC Milan, after buying the UK’s Wolverhampton football team last month. Also in the news, the battle for China’s biggest developer gets more interesting as Evergrande joins the battle for Vanke, and Singapore’s CapitaLan…
Fosun JV Gets $350M Loan for NYC Tower and More Asia Real Estate Headlines
…in the northeastern Chinese city of Shenyang. Read on for all the updates. Fosun JV Bags $350M Loan for Manhattan Condo Tower The developers behind a 756-foot condo building in Manhattan secured a $350 million construction loan this week. New York-based developer JD Carlisle Development Group and Shanghai’s Fosun International landed the loan from Bank of the Ozarks to finance 15 East 30th Street, a 66-story luxury tower. Located between Fifth and…
Fosun to Take $1.5B Hit on Thomas Cook Collapse and More Asia Real Estate Headlines
…ales to foreigners in a Southeast Asian tax haven have hit a 12-year high. Fosun to Take $1.5B Hit on Thomas Cook Collapse When Thomas Cook, the storied British travel agency that filed for bankruptcy on Monday, needed financial help in recent years, it turned to the Chinese investment firm Fosun International. Since 2015, the Shanghai-based conglomerate and its chairman, Guo Guangchang, have built up an 18 percent stake worth as much as $1.5 bill…
Tishman Speyer Sells London Prize to Fosun Insurer and More Asia Real Estate Headlines
…hits a corruption investigation snag. Tishman Speyer Sells London Prize to Fosun-Owned Insurer US developer Tishman Speyer has sold Smithson Plaza, a mixed-use property in London’s West End, to the real estate investment arm of Fidelidade, a Portuguese insurance company controlled by Shanghai-based Fosun Group. The 14-storey building is said to have changed hands for around £160 million ($218 million). Tishman Speyer acquired the estate on behalf…
Fosun Suing Over SOHO Bund Plot – and more China Real Estate News | June 1, 2012
…st China real estate news collected from around the web: Chinese developer Fosun starts civil suit over plot on Shanghai’s Bund Chinese developer Fosun International said on Thursday it has started a civil action in a Shanghai court over the acquisition of a plot of land on Shanghai’s Bund. Rival developer SoHo China said last December it had bought a 50 percent stake in the Shanghai commercial project for 4 billion yuan ($630 million) from Greent…
China’s Fosun Group Makes Buyout Offer for Club Med – and more of Today’s China Real Estate Links | May 29, 2013
…day’s latest China real estate news collected from around the web: China’s Fosun Group Makes Buyout Offer for Club Med Fewer “crazy signs.” More karaoke. That could be the future for Club Med, the French resort operator, which said Monday that it had received a $700 million buyout offer led by its two largest shareholders, an investment unit of the French insurer AXA and a Chinese conglomerate called Fosun International. The proposed deal gives a…
Wanda, HNA and Fosun Targetted in Mainland Finance Crackdown
…owers Stock prices for companies controlled by Dalian Wanda Group, HNA and Fosun were punished by investors on Thursday after China’s banking regulator instructed some of the country’s biggest banks to scrutinise lending to the mainland’s most prominent overseas investors. The three mainland mega-investors, along with tycoon Li Yonghong’s Rossoneri Sport Investment – which acquired Italian soccer club AC Milan for $828 million last year – have bee…
SOHO China Loses Battle with Fosun Over Bund Site – and more of Today’s China Real Estate Links | April 25, 2013
…al estate news collected from around the web: SOHO China Loses Battle with Fosun Over Bund Site Beijing-based commercial property developer Soho China Ltd. on Wednesday lost a lawsuit over a premium piece of land in Shanghai’s Bund in one of the country’s most eye-catching legal battles in the real estate sector. In the first-instance ruling, the Shanghai No. 1 Intermediate People’s Court nullified a previous stake transfer agreement between Soho…
Court Battle Reveals SOHO Strategy for Acquiring Bund Project
…n-cash-strapped Greentown China. The move triggered strong opposition from Fosun, which holds the 50 percent of the project. Fosun, which had established right of first refusal on further sales in shares in the project company, has since taken legal action to attempt to enforce these rights and maintain control over the project. SOHO, however, maintains that Fosun’s purchase rights were confined to the project-level company, and that this did not…
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