The real estate investment firm, part of the Temasek Holdings-owned CapitaLand Group conglomerate, is looking to buy a 20 to 30 percent stake in the hotel chain. The deal is estimated at several hundred million euros, according to anonymous sources at the press office.
Chinese conglomerate Fosun invests in European travel company
Fosun, which took over the brand after the collapse of the world’s oldest and largest travel agency, Thomas Cook, in 2019, sold it to Polish travel agency and air ticket platform sSky.pl a few weeks ago.
The Singaporean company appears to be the most likely buyer after its offer was deemed superior to that of rivals including private equity firms. But talks are ongoing and no final decision has been made.
Fosun has stepped up efforts to reduce its debt, including selling assets and reducing the value of its loans. It is one of the few Chinese conglomerates to regain the trust of foreign investors, according to Bloomberg.
