China's Dalian Wanda to invest $1b in Sydney
(Agencies) Updated: 2015-01-26 13:56Chinese conglomerate Fosun International Ltd is moving into the US property and casualty insurance market by acquiring Meadowbrook Insurance Group for about $433 million, China Daily reported on Jan 1, citing chairman Guo Guangchang.
Fosun also zeroed in on its 18-month quest to buy French holiday resorts group Club Med when Italian businessman Andrea Bonomi refused to raise his latest offer in early January, according toAgence France-Presse.
Fosun Group, which has a diverse portfolio of core holdings in real estate, steel, pharmaceuticals and mining, is building itself into a premier global investment company.
 |
|
A view of Fosun Group signage in Shanghai. Fosun bid 24.60 euros ($30.20) per share for Club Med on Jan 2, 2015, which values the iconic holiday brand at 939 million euros. [Photo/IC] |
- Refinery deal in Myanmar key for Guangdong Zhenrong Energy
- Chinese company finds secret to business success in West Africa
- Japanese rice turns new luxury food for Chinese
- Motorola back to China market
- Yuan suffers biggest loss since 2008
- Beijing-Shanghai high-speed line turns profitable in 2014
- Chinese companies to invest $20b in overseas properties in 2015
- Foreign high-tech vendors may face stricter controls in China
