The acquisitive Chinese conglomerate and investment company Fosun is about to take control of another European asset as it eyes French investment firm Paris Realty Fund.
Fosun Property Holdings, a subsidiary of Fosun International has offered to buy a 50.01 percent stake in Paris Realty Fund оr Paref, at a price of $79.95) per share, including dividend, the French real estate investment firm said.
The controlling stake is held by Paref's existing shareholders Apicil, Gesco, MO1 and the group of Hubert Levy-Lambert who chairs the company’s supervisory board.
Following Fosun’s binding offer letter, Paref granted an exclusivity period to the Chinese group to negotiate a deal.
European Football And Banking
In July 2016 Fosun bought English football team Wolverhampton Wanderers Football Club, in November 2016 Fosun agreed to pay $185 million for a stake in Banco Comercial Portugues, (BCP) Portugal’s biggest publicly traded lender by assets.
After the dilution of BCP's existing capital Fosun will become the largest shareholder with its 16.7 percent stake and aims to increase the stake to about 30 percent in the future.
Fosun Property Holdings is the property investment and management platform of Fosun Group, with over $25 billion in real estate assets and teams located in the major commercial hubs, including Singapore, New York, Tokyo and London.
