Fosun's Strategic Sale of German Bank Gathers EUR670 Million

Fosun International Completes Strategic Sale of HAL

Fosun International Limited has successfully finalized the sale of 99.743% of shares in Hauck Aufhäuser Lampe Privatbank AG (HAL), bringing in EUR670 million. This strategic transaction is a significant part of Fosun's ongoing initiatives to optimize its portfolio and focus on core growth sectors.

Transforming Private Banking in Europe

Since its acquisition of HAL in 2016, Fosun has been instrumental in transforming the bank into a prominent financial institution within the European market. The emphasis on operational management and strategic support throughout its ownership led to notable growth and value realization. HAL's contributions to Fosun's portfolio included considerable dividend income, marking a successful chapter for the company.

Retaining Valuable Asset Servicing Business

A pivotal aspect of this transaction is Fosun's decision to retain its highly regarded asset servicing business, Hauck & Aufhäuser Fund Services S.A. (HAFS). This business has established itself as a leader in fund administration across major European markets, with assets surpassing EUR 100 billion. HAFS's expertise will continue to serve clients in Luxembourg, Ireland, and the German-speaking regions.

Growth Strategies for HAFS

Looking forward, Fosun plans to support HAFS in its independent growth strategies, emphasizing innovation and expanding its global footprint. The synergies between HAFS and Fosun's other financial operations, such as insurance and asset management, are expected to enhance overall service offerings and operational efficiencies.

International Expansion and Future Prospects

Fosun aims to leverage its expansive global network to propel HAFS into emerging markets, including regions like the Middle East and Asia. This effort will not only enhance HAFS's geographical outreach but will also bolster its operational capabilities to meet increasing demand.

Commitment to Core Business and Asset-Light Strategy

With the sale of HAL's banking operations, Fosun highlights its commitment to an asset-light operational model. This strategic decision allows the company to focus on its core business areas while maximizing the value of retained assets.

Leadership and Vision for the Future

Christoph Kraiker, CEO of HAFS, expressed confidence in the company’s direction, citing the aim to utilize Fosun's global influence to enhance service quality and efficiency. Meanwhile, Wilson Jin, Fosun’s Senior Vice President, underscored the sale as a critical milestone in the group’s journey toward an optimized asset structure.

About Fosun International Limited

Fosun International, founded in 1992, has evolved into a global leader in consumer innovation. With a mission focused on improving lives worldwide, the company has diversified interests in sectors such as health, happiness, and wealth. As of the end of the previous year, Fosun boasted total assets of RMB796.5 billion and a strong commitment to sustainable growth and corporate responsibility.

Frequently Asked Questions

What was the total amount received from the sale of HAL?

Fosun received EUR670 million from the sale of its shares in HAL.

What does Fosun plan to do with its asset servicing business?

Fosun intends to support its asset servicing business, HAFS, in expanding and pursuing innovative solutions for clients.

How will this sale affect Fosun’s strategy?

This sale aligns with Fosun's ongoing strategy to focus on core businesses and maintain an asset-light operating approach.

Where does HAFS provide services?

HAFS provides asset servicing in key European markets, particularly Luxembourg and Ireland.

What industries is Fosun focusing on for future investments?

Fosun is concentrating on sectors like biopharmaceuticals, cultural tourism, insurance, and healthcare for future investments.

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