FOSUY - Fosun Tourism At Crossroads As Parent Shops Its Two Major Assets
2024-03-08 05:20:00 ET
Summary
- Fosun International is reportedly looking to sell some or all of its tourism unit’s Atlantis Sanya mega-resort, as well as a stake in the unit’s Club Med resort chain.
- The conglomerate Fosun International is doing this to raise cash to pay down its large debt.
- A sale of one or both assets could drastically alter the picture for Fosun Tourism, which is 78% owned by Fosun International.
There's strategic investing, and then there's debt. When it comes to the two, debt seems to take precedence these days for conglomerate Fosun International ( FOSUF , 0656.HK), which is reportedly looking to offload some or all of the two main assets in its Fosun Tourism Group (1992.HK) unit....
Fosun Tourism At Crossroads As Parent Shops Its Two Major Assets