Announced
Financials
Tags
Acquisition
China
Friendly
wine brewer
wine production
Domestic
Pending
alcoholic beverages
Private
beverages
Single Bidder
Distillers and Vintners
Majority
Private Equity
Synopsis
Fosun International, a Chinese conglomerate and investment company, agreed to acquire a 70% stake in Sichuan Tuopai Shede Group, a brewery, from SkyOcean Holdings, a business conglomerate, for $694m. The transaction underscores the domestic push underway at the insurance-to-tourism conglomerate as the Chinese economy rebounds from a pandemic-induced slowdown, even as western nations still struggle to contain the coronavirus outbreak.
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