Fosun International’s strategic acquisition of a German private bank

On 5 July, Fosun Group submitted a binding acquisition offer to the shareholders of Hauck & Aufhäuser Privatbankiers KGaA ("H&A"). The offer was approved by the bank’s shareholders’ committee. By 8 July, shareholders holding more than 80% of H&A’s registered no-par-value ordinary shares had accepted it. At the time of this report, the transaction was under review by the relevant regulators. Following approval, the shares were to be transferred as soon as possible. The investment could reach EUR 210 million. H&A would become the first German bank controlled by a Chinese company.

Eurasian Consulting GmbH participated as Fosun Group’s exclusive M&A advisor. From the first contact to the written acceptance of the offer by the majority shareholders on 8 July, it helped the client reach an acquisition agreement in just three months.

Fosun was established in Shanghai in 1992. On July 16, 2007, Fosun International Limited (00656.HK) listed on the Main Board of the Hong Kong Stock Exchange. Fosun is committed to being rooted in China, actively practicing its investment model of "integrating global resources with Chinese momentum," and is striving to become a world-class investment group driven by "core insurance-based comprehensive financial capabilities" and "global industry integration capabilities rooted in China." Currently, Fosun's business includes two major sectors: comprehensive finance and industrial operations.

Hauck & Aufhäuser Privatbankiers was founded in 1796 and is one of the few independent private banks in Germany. The bank was formed in 1998 by the merger of two very traditional private banks. It currently operates in Frankfurt, Munich, Zurich, Liechtenstein, and Luxembourg, focusing on comprehensive consulting services and asset management for private, corporate, and institutional clients, with more than 500 employees. Of the bank's 75 original shareholders, in addition to the founding Hauck family, several prominent German corporate families are also included.

Related media reports:

China Securities News: Fosun Strategic Acquisition of Private Bank

China Business Network: Fosun acquires German private bank for 210,000,000 euros