Fosun International 0656

Re: Fosun International 0656

Postby winston » Tue Sep 19, 2017 8:42 am

Fosun spikes on Bally deal news

by Janice Huang

Mainland Chinese conglomerate Fosun International (0656) outperformed, as its share price spiked 11.73 percent on news that it is planning to acquire luxury brand Bally.

Fosun International and Chinese apparel manufacturer Fujian Septwolves Industry are reportedly among suitors vying for luxury leather goods firm Bally International , which is said to have a price tag of 600 million euros (HK$5.6 billion).

Bally has also drawn interest from Japanese trading firm Itochu Corp as non-binding offers came in this week.

Fosun International, backed by Chinese billionaire Guo Guangchang, also has stakes in Greek jewelry brand Folli Follie and American fashion brand St. John.

Meanwhile, Shanghai Fosun Pharmaceutical (Group) scaled back its proposed purchase of control in Indian drugmaker Gland Pharma to a level that would allow it to avoid a government review of the biggest Chinese acquisition in India.

Fosun Pharma, a subsidiary of Fosun International, will now buy a 74 percent stake for US$1.1 billion (HK$8.58 billion), according to a statement. It had originally sought to buy an 86 percent stake in the closely-held Indian drugmaker from an investor group including KKR & Co. However, a stake that size must be signed off by India's Cabinet Committee on Economic Affairs, which was poised to reject the move.

The reduced stake will avoid a government review, Fosun said, and the deal is set to be completed by October 3 as all the main conditions have been met. The deal gives Fosun access to Gland's stable of generic injectable medicines.

Source: The Standard
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Re: Fosun International 0656

Postby winston » Fri Nov 10, 2017 3:13 pm

<Research Report>BofAML Rates FOSUN INTL (00656.HK) at Buy with Target Raised to $23.5

Bank of America Merrill Lynch, in its report, reiterated Buy on FOSUN INTL (00656.HK) and believed that the stock will continue to be re-rated by the market due to the value unleashed through non-listed investment of IPO and disposal of secondary investment, coupled with higher profit quality of subsidiaries.

The target price was raised to $23.5 from $16.2.

Bank of America Merrill Lynch added that FOSUN PHARMA (02196.HK) (600196.SH), Club Med and resort hotel Atlantis, as major subsidiaries of FOSUN INTL, contributed increased recurring profit, enhancing profit transparency of FOSUN INTL.

Source: AAStocks Financial News
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Re: Fosun International 0656

Postby winston » Fri Nov 10, 2017 3:14 pm

Oct 25, 2017

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<Research Report>G Sachs Reiterates FOSUN INTL (00656.HK) at Buy with Target Lifted to $24

Goldman Sachs reiterated Buy on FOSUN INTL (00656.HK) with target price lifted 50% to $24.

The broker raised the NAV forecast by 28% to $32 per share for 2018 and opined that its valuation was attractive.

The share price of the company accumulated 48% growth since end-August.

Goldman Sachs believed that it was mainly due to alleviated market concern about scrutiny risk, especially regulation over overseas M&A.

Source: AAStocks Financial News
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Re: Fosun International 0656

Postby winston » Fri Nov 10, 2017 3:15 pm

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Oct 18, 2017

<Research Report>C Suisse Raises FOSUN INTL (00656.HK) Target to $21.5; Rated Outperform

Credit Suisse, in its report, said FOSUN INTL (00656.HK)'s interim results were strong, and believed the favorable macro-landscape and the company's better performance to lead to market re-rating.

The target price of the company was raised to $21.5 from $15.3 with rating maintained at Outperform.

Source: AAStocks Financial News
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Re: Fosun International 0656

Postby winston » Thu Nov 23, 2017 3:11 pm

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<Research Report>Citi Lifts FOSUN INTL (00656.HK) Target to $23; Rated Buy

Citigroup, in its report, said the pre-IPO projects of FOSUN INTL (00656.HK) may enter a harvesting period in a bull market, likely to bring upside room for its share price, thus the broker kept rating Buy with target price lifted from $15.5 to $23.

Citigroup said Fosun divested from quite some projects, such as Juewei, Ironshore and Sisram. The company also funded BabyTree, a Chinese parenting site which plans to be listed in 1H18 at the earliest.

The broker said the share price of Fosun went weaker recently because some wrong news suggested Guo Guangchang resigned as the president of the group while the group has clarified that he only resigned from the post of president of a subsidiary.

Citigroup believed that Guo will focus on developing the long-term commercial strategy and nurturing young executives to reduce "the key man risk" of the group.

Source; AAStocks Financial News
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Re: Fosun International 0656

Postby winston » Fri Dec 15, 2017 11:10 am

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Report: FOSUN INTL (00656.HK) Planning to Spin off & List Club Med Next Year

FOSUN INTL (00656.HK) is negotiating with banks as it intends to spin off and list its tourism business in Hong Kong next year, including Thomas Cook and Club Med, raising US$500 million, IFR cited sources.

Source: AAStocks Financial News
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Re: Fosun International 0656

Postby winston » Mon Dec 18, 2017 4:43 pm

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Fosun Sells Sydney Commercial Building to Cash in Approx. USD115M

Fosun said to sell a grade B commercial building in Sydney to the subsidiary of Australia's Propertylink in an amount of roughly AUD150 million (roughly USD115 million), foreign media reported.

Source: AAStocks Financial News
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Re: Fosun International 0656

Postby winston » Wed Dec 20, 2017 7:06 pm

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Fosun buys out Asahi’s stake in Tsingtao Brewery as it turns its acquisitions back to its home turf

Fosun will pay HK$6.6 billion to buy out Asahi’s stake in Tsingtao Brewery, becoming the second-largest shareholder in China’s biggest beer producer.

Fosun will end up with close to 18 per cent of Tsingtao, while China’s state-owned Tsingtao Brewery Group retains the largest stake .


Fosun and its Beijing Sanyuan Foods unit bought St Hubert, a French margarine producer, from Montagu Private Equity for about 600 million euros (US$702 million),


Largest share of China’s beer market at 29.3 per cent as of last year.

Overseas sales made up 2 per cent of Tsingtao’s 2016 revenue.

Fosun will pay Asahi HK$27.22 for each of the Tsingtao shares traded on the Hong Kong exchange , or almost 18 per cent discount to the stock’s 12-month average trading price of HK$33.25.




Source: SCMP

http://www.scmp.com/business/companies/ ... -turns-its
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Re: Fosun International 0656

Postby winston » Tue Jan 09, 2018 12:13 pm

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Fosun International (656 HK): 2018 to be another busy year

Going by recent newsflow on Fosun International, 2018 looks set to be another eventful year for the group.

Atlantis Sanya will open around April, along with more Club Med resorts in China.

At 0.47x, net gearing is relatively low (has been decreasing from 0.86x in 2013) and there is room for more M&A.

An example of a recent project was the acquisition of a near 18% stake in Tsingtao Brewery from Asahi in Dec at HK$27.22/share for a total of US$844m; the current share price of Tsingtao is about HK$46.50.

Looking ahead, the stage looks set for more investments for growth. At the same time, Fosun is unlocking value from its earlier investments – in early Dec, Reuters reported that the group is in talks with investment banks to list its tourism business in Hong Kong, aiming to raise at least US$500m.

In 2017, the group saw nine IPOs of its investments and we expect a healthy pipeline for this year as well.

Source: OCBC
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Re: Fosun International 0656

Postby winston » Fri Jan 12, 2018 8:13 am

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China’s Fosun seeks to clone success of Dubai project in Atlantis Sanya

China’s acquisitive conglomerate Fosun Group is betting on a luxury resort in the southern seaside city of Sanya, hoping to clone the success of a related comprehensive resort project in Dubai.

About 10 billion yuan (US$1.54 billion) has been invested into the project in Sanya by Fosun, according to Qian.

Assets under the company’s tourism unit include French resort operator Club Med and a Chinese joint venture with British tour operator Thomas Cook Group.

Source: SCMP

http://www.scmp.com/business/china-busi ... t-atlantis
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