May 13, 2016

Fosun among bidders for Singapore-based reinsurer

(Reuters) — China’s Fosun International Ltd. is among suitors bidding for ACR Capital Holdings Pte. Ltd., the owner of Singapore’s biggest reinsurance firm, in a deal valued at around $1 billion, people with knowledge of the matter said.

If Fosun were to be successful, it would be the first major deal for the conglomerate since its chairman, Guo Guangchang, went briefly missing late last year. The latest move also represents a shift in Fosun’s strategy, which in recent years has struck deals outside Asia.

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