Fosun wins approval to acquire FFT

Move paves way for conglomerate to tap intelligent manufacturing sector

Fosun International Ltd won regulatory approval from the European Commission on Monday to acquire a German automated and flexible production systems maker, paving the way for the Chinese conglomerate to tap into the intelligent manufacturing sector.

The buyout, proposed by Fosun in June, raised no competition concerns, given that there are no horizontal overlaps or vertical links between the activities of the companies, the commission said in a statement.