Chinese Conglomerate Buys Into Europe

Shanghai based Fosun International is said to have purchased Palazzo Broggi in Milan. The property was formerly the home to Italian bank UniCredit. A price of €345m has been agreed sources said.

Fosun International has been on an aggressive acquisition push in the past few years. In 2014 the Chinese conglomerate bought almost 20% of German Bank BHF. The company also purchased One Chase Manhattan Plaza in New York for $725m. Earlier this year a deal was struck which gave Fosun control of French resort company Club Med.




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