Chinese conglomerate Fosun International sells German private bank HAL to ABN Amro for US$731 million to boost liquidity

By Jerry 
Fosun International, one of China’s largest private-sector conglomerates, has accelerated its pace of asset disposal after agreeing to sell German lender Hauck & Aufhauser Lampe (HAL) to Dutcj bank ABN Amro for €672 million (US$731 million).

Shanghai-based Fosun, controlled by Chinese billionaire Guo Guangchang, announced on Tuesday that the proceeds of the sale will be used to replenish general working capital.

Source: TRADE FINANCE


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