Shanghai Fosun Pharmaceutical Group Co., a maker of modern drugs and traditional Chinese medicine, rebounded in Shanghai trading after the company’s parent denied speculation that its Chairman Guo Guangchang had been detained.
JPMorgan Chase & Co.’s deal to sell 1 Chase Manhattan Plaza to Fosun International Ltd. would be the largest purchase of a New York building by a Chinese buyer, showing Asian investors’ growing appetite for U.S. real estate.
JPMorgan Chase & Co. has agreed to sell 1 Chase Manhattan Plaza, the tower built by David Rockefeller, to Fosun International Ltd., the investment arm of China’s biggest closely held industrial group, for $725 million.
Fosun International Ltd., the investment arm of China’s biggest closely held industrial group, agreed to buy a stake in Raffaele Caruso SpA, an Italian maker of suits for companies including Christian Dior SA.
Fosun International Ltd., a Chinese company that last year took a stake in Greece’s Folli Follie Group, expects 2012 investments to surpass the as much as 30 billion yuan ($4.8 billion) it spent in 2011, its chairman said.
Fosun International Ltd. rose the most in two months in Hong Kong trading after the investment company made a takeover bid yesterday for Club Mediterranee SA with investors including Axa Private Equity.