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Chinese conglomerate Fosun's tourism unit says reviewing business portfolio
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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.

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