Business / Companies

Fosun clinches two European deals in 24 hours

By WANG YING in Shanghai ( Updated: 2014-03-28 18:44

Fosun International Ltd, China's biggest private conglomerate, reportedly inked two deals in Europe within 24 hours.

On Wednesday, Hellenic Republic Assets Development Fund, a state privatization agency in Greece, said it received an offer from Fosun International to develop a coastal Olympic complex left largely abandoned since the 2004 Athens Games. Greece's Lamda Development offered 915 million euros for the project at Hellenikon, the Greek capital's former airport, the Hong Kong-based South China Morning Post reported. Lamda's bid is backed by Fosun and Al Maabar International Investment from Abu Dhabi.

On Thursday, Fosun International announced the acquisition of full equity interests in BHF-BANK, a German private bank, by a consortium led by RHJ International, a financial services group, and its wholly owned subsidiary Kleinwort. Fosun invested about 98.5 million euros in the deal.

Earlier in February, Fosun International bought a controlling stake in Caixa Seguros, Portugal's largest insurance group, for 1 billion euros in a bid to build an investment group focused on the insurance sector.

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