financetom
Business
financetom
/
Business
/
Chinese conglomerate Fosun's tourism unit says reviewing business portfolio
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Chinese conglomerate Fosun's tourism unit says reviewing business portfolio
Mar 6, 2024 7:34 PM

(Reuters) - Fosun Tourism Group ( FSNGF ) said on Thursday it was reviewing its business portfolio, in response to a Reuters report that it was exploring the sale of a hotel resort.

Fosun International ( FOSUF ) is looking to sell all or part of its luxury resort Atlantis in southern China as part of its efforts to reduce debt, Reuters reported on Tuesday citing sources. Fosun's ( FOSUF ) Hong Kong-listed unit Fosun Tourism Group ( FSNGF ) owns the resort.

"Fosun Tourism ( FSNGF ) consistently reviews and optimises its business portfolio, focuses on the growth of core businesses, and will continue to strengthen operational capabilities," the tourism company said in a statement.

"The company's business is operating well with stable financial condition," it added.

Fosun Tourism ( FSNGF ) accounts for 9% of Fosun International's ( FOSUF ) overall revenue. Its other main asset is Club Med and sources have said it is also exploring the sale of a minority stake in the luxury resort chain, Reuters reported last month.

The Fosun International ( FOSUF ) conglomerate's other businesses span healthcare, financial services and property.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Nov 28, 2023
The firm and dispatchable renewable energy (FDRE) project, designed with a hybrid of solar, wind, and battery storage, is aimed at providing a stable and dispatchable energy supply during peak hours. Shares of Tata Power Company Ltd ended at ₹270.75, up by ₹12.60, or 4.88%, on the BSE.
SJVN secures 200-MW wind power project at ₹3.24 per unit
SJVN secures 200-MW wind power project at ₹3.24 per unit
Nov 16, 2023
Projected to generate 482 million units in its inaugural year post-commissioning, the cumulative energy generation over a 25-year span is anticipated to reach 12,050 million units. Shares of SJVN Ltd ended at ₹75.17, down by ₹0.50, or 0.66%, on the BSE.
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Nov 15, 2023
Th Suzlon wind turbines received the RLMM (Revised List of Models & Manufacturers) listing from the Ministry of New and Renewable Energy, marking an important milestone for the successful commercialisation of the product. Shares of Suzlon Energy Ltd ended at ₹40.49, up by ₹1.85, or 4.79%, on the BSE.
This sustainable jewellery brand is luring some women away from gold
This sustainable jewellery brand is luring some women away from gold
Oct 30, 2023
Aulerth's offerings range from ₹5,000 to as high as ₹2.8 lakh. Are women willing to spend this much on jewellery made from scrap? Founder and CEO Vivek Ramabhadran definitely believes so. Aulerth produces couture-inspired pieces in association with designers like JJ Valaya, Suneet Varma, among others. It has reported 33% repeat customers in the past year and expects a spike to 40% soon.
Copyright 2023-2026 - www.financetom.com All Rights Reserved