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....
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Fosun Tourism At Crossroads As Parent Shops Its Two Major Assets