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Fosun Plans Asset Sales in Reversal of $15 Billion M&A Spree

  • Chinese group could sell up to $6 billion in assets, CEO says
  • Retrenchment makes Fosun outlier in record year for China M&As
Bloomberg business news

Fosun to Sell Up to $6 Billion in Assets

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Fosun Group, one of China’s most acquisitive conglomerates, is preparing to sell as much as 40 billion yuan ($6 billion) in assets as it focuses on raising its credit rating to above junk.

After announcing more than $15 billion in overseas acquisitions since 2010, the group plans to disclose the disposals between now and the end of 2017, Liang Xinjun, chief executive officer of flagship unit Fosun International Ltd., said in an interview aired on Bloomberg Television on Monday.