Chinese international conglomerate and investment firm Fosun International is negotiating a US$500 million holding in German wholesaler Metro, according to a Bloomberg report.
The unconfirmed news about an acquisition that would see Fosun taking a 9 per cent holding in Metro has already boosted the firm’s share prices and may generate interest from other players, setting off a bidding war with other recent and potential investors in the firm.
While current and prospective stakeholders in Metro may be preparing to face off, Fosun remains committed to its global acquisitions strategy that has seen it review an average of 25 possible investments per day – more than 9000 in total – over the last year.
Fosun International currently owns 10 per cent in accessories retailer Folli Follie, resort Club Med, Canada’s Cirque du Soleil and the Malaysian-founded Secret Recipe cafe chain.
Inside Retail Hong Kong