Chinese group Fosun has sold off its investment in a Sydney office tower as pressure mounts on several of China’s largest private groups to divest from overseas acquisitions.
Fosun, the owner of assets including Cirque du Soleil, Clud Med and Portugal’s largest bank, sold its stake in a property fund for A$150m ($115m) to its partner Propertylink, the Australian company said in a statement on Monday.
The Chinese group invested A$117m in a Propertylink office property fund in 2014, according to a prospectus from Propertylink. The fund was set up to invest in one B-grade office tower in North Sydney’s business district.
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