The Chinese billionaire who modeled himself on Warren Buffett is back to chasing mega deals overseas
I write about interesting Chinese companies.Guo Guangchang attends the economy group discussion of the Fourth Session of the 12th Chinese People's Political and Consultative Conference on March 7, 2016 in Beijing, China.
His Fosun conglomerate recently confirmed that it was in talks to acquire Thomas Cook’s tour operating business. Fosun is also reportedly considering a $1 billion takeover of Russian miner GV Gold and a joint bid for Bayer AG’s animal-health division, which could be worth up to $9 billion. “They are under the watch of the government,” says Warut Promboon, managing partner of Hong Kong-based credit research firm Bondcritic. “ But as long as it [Fosun’s investment] is reasonable, it is still okay.”Fosun is building a sprawling empire that Guo says emphasizes happiness, health and wealth, so it can cater to Chinese families’ growing demand for quality products in areas such as finance, hospitality and advanced medical treatment.
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