One of China's largest corporations has agreed a second foreign acquisition within days. A sign that the stricter regulatory grip on foreign investments isn't aimed at cutting of all purchases of overseas assets.
Fosun International, a Shanghai-based insurance, investment and lifestyle conglomerate acquired Brazilian asset manager Guide Investimentos for $52 million, just days after it reported the takeover of French luxury brand Lanvin.
The move is the third investment in Brazil for the group. In July 2016, Fosun bought Brazilian fund manager Rio Bravo Investimentos, its first acquisition in Latin America. It also purchased Torre Sucupira, an office building in Sao Paulo, for $140.1 million.
Politically Correct
After a flurry of landmark deals including the takeover of Club Med, Fosun’s activities dried up following the detention of the firm's high-profile billionaire founder and chairman, Guo Guangchang, as he was leaving Shanghai airport in 2015. Guo was later released without charge but his company withdrew from several ongoing deals.
«Fosun is regaining pace, it seems like a signal that political pressure is easing for the company,» Shaun Rein, of Shanghai-based market intelligence company China Market Research told the «South China Morning Post.»
