Currently, the firm is awaiting German regulatory approval to acquire private bank Hauck & Aufhauser in a $233m worth deal, reported The Wall Street Journal.
Estbalished in 1796, Hauck & Aufhauser provides banking services in Germany, with offices in Frankfurt and Munich.
Fosun is also planning to acquire British private bank Kleinwort Benson and offered around $231m to acquire its operations. Currently, the firm owns a minority interest in it.
Kleinwort Benson offers a range of financial services in the UK and Channel Islands.
Fosun International CEO Liang Xinjunwas was quoted by the Wall Street Journal as saying that the group intends to acquire more assets to provide services to China’s rich and across Europe and Japan.
"We see that a lot of China’s middle class are looking for investments overseas and if we have private banks, we can offer wealthy Chinese families living in China direct access to personalized financial products that invest in overseas markets," he added.
Image: Fosun intends to expand its overseas operations in the banking sector. Photo: courtesy of Stuart Miles / FreeDigitalPhotos.net.
