China's Fosun in advanced talks for stake in French recreation group
China's Fosun is in advanced talks to take a 10% to 15% stake in tourism and leisure group Compagnie des Alpes, according to Le Monde.
Chinese diversified group Fosun is in advanced talks to take a 10% to 15% stake in tourism and leisure group Compagnie des Alpes, Le Monde newspaper said in its weekend edition.
Compagnie des Alpes specialises in ski resorts, family parks and attractions.
The newspaper said the company, in which French state-owned bank Caisse des Depots (CDC) holds a 39.54% stake, is looking for partners to beef up its capital and accelerate its international development.
"We are in contact with several groups, not just Chinese," Dominique Marcel, Chief Executive Officer of Compagnie des Alpes told Le Monde. "In depth discussions are ongoing and I would like them to go faster."
The paper quoted an unnamed source as saying that among the candidates, "Fosun is one with which discussions are most advanced."
French Economy Minister Emmanuel Macron, said in March that CDC would not sell shares in Compagnie des Alpes and would retain control.
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