Chinese 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.
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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] |
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