Fosun International is said to be exploring options to sell several assets in China and abroad as per sources. It is said that Fosun’s domestic food and beverage business, including noodle chain Songhelou is available for potential investors/buyers. Also, a stake sale in EV battery maker JEVE, which had a valuation of $1.4bn last year, is being considered. In the real estate space, it is said to be exploring a potential transaction involving the building ‘The Bund Finance Center’ for several billion dollars, as per Bloomberg sources. Internationally, it is considering options for British baby stroller and nursery furniture company Silver Cross, an acquisition it had made earlier. Besides, it is also reviewing its holdings in financial institutions and weighing a sale of French luxury resort chain Club Med SAS, which could garner $1.5bn. This is an update to Fosun’s announcement last month where it was targeting selling up to $11bn of assets in the next twelve months.
Fosun’s 6.85% 2024s rose 6% to 58 cents on the dollar on Monday following the overall positive sentiment around China property.
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