Guo Guangchang, president of Fosun: “We will not sell in Portugal”
In a week in which the Chinese giant was under scrutiny, with reports in the international press reporting liquidity problems and the management of a US$40 billion (€40 billion) debt, Fosun’s chairman, Guo Guangchang, gave a written interview to Expresso where he guarantees that “no divestment in Portugal is planned”. Fosun owns almost 30% of the largest private bank, BCP, owns 85% of Fidelidade and, through the mainly private equity firm, owns the Luz Luz group. A was the first asset it purchased, in 2014, in a shared capital with Caixa Geral de Depósitos, with a 15% stake. Fosun still has around 5% of REN.
Guo Guangchang, known as Chinese Warren Buffett, who holds 85.29% of Fosun’s capital, categorically refuses to sell any position in Portugal, as they are relevant businesses for the group: “None of the investments in Portugal are considered for sale, given its potential to generate value and the country for an international strategy for Fosun.” And he insists on the solidity of the company’s financial position with the fact that a Fosun has “a diversified business portfolio and a global existence of assets” and that “it has been known to maintain, throughout its history, a good balance between investments and investments” .
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