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Fosun Continues Shopping Spree to Acquire Austria’s Wolford

Fosun picks up its pace of offshore expansion after last year’s slowdown amid China’s tightening scrutiny of outbound investment. Photo: IC
Fosun picks up its pace of offshore expansion after last year’s slowdown amid China’s tightening scrutiny of outbound investment. Photo: IC

Chinese conglomerate Fosun is picking up its pace of offshore investment with a third deal in two weeks to add an Austrian luxury textile maker to its portfolio.

Bregenz-based luxury lingerie and legwear specialist Wolford AG said Thursday that its majority shareholders have agreed to sell 50.9% of the company’s stake to a unit of Chinese investment behemoth Fosun International Ltd. for about 32.6 million euros ($40 million).

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