Fosun International to acquire a 70% stake in Sichuan Tuopai Shede Group from SkyOcean Holdings for $694m.

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.