March 17, 2015 / 7:35 AM / 4 years ago

Fosun International weighs bid for Cushman & Wakefield -Bloomberg

March 17 (Reuters) - Chinese conglomerate Fosun International Ltd is considering a bid for Cushman & Wakefield Inc, the world’s third-largest real estate company, Bloomberg reported, citing sources familiar with the matter.

The Shanghai-based investment firm is among several companies that have expressed interest in Cushman, Bloomberg reported, adding that the process is at a preliminary stage and any deal could be several months away. (bloom.bg/1xagPMD)

The deal would bring Fosun industry expertise that could help it manage its global real-estate investments and explore new deals, Bloomberg said, quoting one of the people.

Italy’s Agnelli family, which owns 81 percent of Cushman through its holding company Exor SpA, hired Goldman Sachs Group Inc and Morgan Stanley last month to find a buyer for Cushman and the deal could fetch $2 billion, the Wall Steet Journal reported.

Earlier this month, Fosun bought a 5 percent stake in Thomas Cook Group for 92 million pounds ($140 million), deepening its foray into Europe’s tourism sector.

Representatives at Fosun, Exor and Cushman were not immediately available for comment. (Reporting by Shivam Srivastava in Bengaluru; Editing by Anupama Dwivedi)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below