Fosun Group News

China’s Fosun Plans to Raise $3.2B to Boost Domestic M&A: Sources

Fosun Group is planning to raise as much as 21 billion yuan ($3.2 billion) selling local bonds as the Chinese insurance-to-pharmaceutical conglomerate refinances debt and increases its investments inside the country, according to people familiar with the matter. Fosun unit …

China’s Anbang Turns Attention to Digesting $13.5B of Overseas Deals

Anbang Insurance Group Co., known for its aborted attempt to buy Starwood Hotels & Resorts Worldwide Inc. in March, is turning its attention from chasing deals to digesting $13.5 billion of overseas acquisitions announced since 2014. The company will focus …

China’s Fosun Looks at UK, Europe Investments on Brexit Volatility

Fosun Group, China’s biggest private conglomerate, will look for more opportunities in the United Kingdom and Europe in the volatile wake of Britain’s referendum vote to leave the European Union, the company’s billionaire co-founder and chairman said at a Reuters …

China’s Fosun Aims to Lead in Insurance, Tourism, Healthcare; Plans to Cut Debt

Fosun Group, China’s largest private conglomerate, is aiming to become a world leader in insurance, tourism and healthcare but also has a “clear plan” to reduce its debts, chairman and co-founder Guo Guangchang said on Tuesday. In an exclusive interview …

Chinese Insurers Seek Strategic Tie-Ups, M&As to Tap Western Expertise

Chinese insurers are pursuing strategic tie-ups and outright mergers and acquisitions to tap Western expertise. They are keen for knowledge on products, pricing and technology as a nascent Chinese market for health and property insurance takes off, industry executives say. …

Swiss Re CFO: Some Reinsurance Deals in Time May Prove ‘Adventuresome’

Some takeovers in the reinsurance industry by investors from outside the sector may ultimately be viewed as “adventuresome,” the chief financial officer of reinsurer Swiss Re said. The reinsurance business has seen a wave of merger deals and more are …

Fosun’s Guo to Slow Down Global Buying Spree of Insurers, Banks

Chinese billionaire Guo Guangchang, who calls himself a student of Warren Buffett, says he will slow down a global buying spree over the next two years after his Fosun Group snapped up insurers, banks and fashion companies at home and …

China’s Fosun Plans to Raise $1 Billion to Fund Insurance Industry Acquisitions

Fosun International Ltd., the Chinese conglomerate that’s been buying insurers and property overseas, plans to raise $1 billion partly to fund acquisitions in the insurance industry. The company will sell the shares at HK$19.48 to HK$20.32 each, according to a …

Updated: China’s Fosun to Buy Remaining Shares in Ironshore for $1.84B

Fosun International Ltd., the investment arm of China’s biggest closely held conglomerate, is planning a $1.84 billion merger with Ironshore Inc. after buying the shares it doesn’t already own in the Bermuda-based insurer. Fosun’s unit Mettlesome Investment 2 will combine …

Fosun to Co-Develop New York Apartment Project in U.S. Expansion

Fosun Group will co-develop a luxury residential tower in New York, underscoring the Chinese company’s growing appetite for U.S. property holdings after its One Chase Manhattan Plaza purchase in 2013. Fosun will develop the 47-story condominium tower on Madison Avenue …