…gs from the end of June to 20 October, driving a 10 percent contraction in Fosun’s estimated portfolio value as of June. Fosun International had total debt of 100 RMB billion, along with RMB 270 billion of assets, according to a statement by the company in September. The Fosun family of companies, including its listed subsidiaries such as Shanghai Yuyuan Tourist Mart Group and Fosun Pharma, held RMB 260 billion in total debt. Righting the Ship Fos…
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Fosun Sells 50% Stake in Shanghai Bund Project for RMB 5.33B
…nt stake in Cirque du Soleil. “In the past, everyone is interested in what Fosun has acquired, but recent projects show that Fosun isn’t only good at buying, it’s also good at selling. We are increasing our financial strength by embarking on various agile ways such as an ‘exit strategy’,” wrote the 49-year-old Shanghai billionaire. Active Shanghai Market Supports Bund Finance Centre Sale Fosun boss Guo Guangchang now says he wants to be known for…
China’s Fosun Buys Historic Moscow Building Near the Kremlin for Reported $168 Mil
…cess to the real estate market.” The real estate asset acquisition follows Fosun’s establishment of Fosun Eurasia which the Chinese firm set up as “a key integrated financial platform for Fosun’s investment and asset management advisory businesses in Russia and neighbouring countries” in October 2015. In December, Fosun was said to have entered exclusive talks to buy a large minority stake in Russia’s biggest gold miner, according to a report in R…
Fosun Buys Out French Property Investment Firm for $48M
…r the balance PAREF’s shares at the stated price of €75 ($79.5) per share. Fosun Has a Hankering for Europe Before this Parisian pact, Fosun acquired a 34,000-square-metre office complex in Frankfurt, Germany, for around €50 million ($53 million) in a joint venture with UK partner Resolution Property. The seven-storey property, found in Frankfurt’s Bockenheim district, was Fosun’s first in Germany. The Palazzo Bruggi in Milan (Image courtesy of Wi…
$700M Fosun Tourism IPO Offers a Stake in Money-Losing Travel Unit
….35 million customers in 2017 — its highest visitor numbers since 2009, and that revenue had increased by 4.4 percent year-on-year. In an interview in Qinhuangdao when the Golden Coast Joyview hotel was launched, Fosun senior vice president chairman of Fosun Tourism and Leisure Group Qian Jianrong said that his company is also eyeing expansion in North America’s tourism and leisure market through acquisitions….
Fosun in Talks to Invest $495M in German Wholesaler Metro
…017 and RMB 135 million in the first half of this year. Bucking the Trend, Fosun Expands Overseas Holdings Fosun’s Guo Guangchang is committed to overseas investment as other Chinese companies pare back The losses haven’t hurt Fosun’s appetite for foreign investment. In March, Fosun revealed it was acquiring a 5.11 percent stake in a US senior living operator for $65 million. The investment in Brookdale Senior Living came as other large Chinese fi…
Shanghai’s Fosun Said to Pursue Cushman & Wakefield
…tment firm in acquiring and disposing of properties internationally. Could Fosun Help C&W to Grow in China? In shopping for foreign firms, Fosun has historically looked for companies that it could help to gain a stronger foothold in China. After buying Greek fashion brand Folli Follie for example, the investment company helped the retailer to rapidly expand their store network on the mainland. C&W has already established offices in Beijing, Shangh…
Fosun Buying Back 50% Stake in Shanghai Bund Complex for $1B
…0 percent stake in the project held primarily by Greentown China Holdings, Fosun’s partner at the time. Fosun took Soho to court in 2012 on the grounds that the Shanghai company enjoyed the right of first refusal on any sale of shares in the project company. An intermediate court ruled in Fosun’s favour in 2013, leading Soho to appeal to a higher court. The case ended in 2015 when Soho agreed to surrender its half-interest for RMB 4.6 billion, wit…
Fosun Buys Second Tokyo Office Tower Within Five Months
…e Manhattan Plaza last year for $725 million. Second Tokyo Acquisition for Fosun and More on the Way Fosun’s new office block is less than two kilometres away from the SeaFort Square Citi Group Center building that it purchased in August. A number of globally recognised brands are headquartered in Shinagawa ward, including Acura, NSK, and Japanese ecommerce giant Rakuten. IDERA itself was only acquired by Fosun in May of this year, as the Shanghai…
4 Fosun Real Estate Deals Revealed in 1 Week on 2 Continents
…ore in real estate globally, particularly in the United States and Europe. Fosun Buys a Palazzo of Its Own Fosun’s Italian acquisition is the Palazzo Bruggi, according to a report by Reuters. The building, which is also known as the Palazzo del Poste, borders Milan’s Piazza Cordusio square, and until recently was the headquarters of Italian bank UniCredit. The Palazzo Bruggi in Milan (Image courtesy of Wikimedia Commons). The 1901 building formerl…
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