Fosun to sell real estate firms to Shanghai Yuyuan for $3.5 billionStaff Writer | May 26, 2017
Fosun International said it will sell 28 real estate companies to Shanghai Yuyuan Tourist Mart for 24.16 billion yuan ($3.5 billion) as part of a reorganization to better allocate resources.
Acquisition The reorganization
Fosun, which saw its chief executive and vice president step down in a surprise reshuffle in March, said the reorganization would also enable more focused development and better strategy planning. ■