Fosun completes the acquisition of German private bank H&A

Fosun International Limited (00656) announced on September 9 that it has formally completed the acquisition of the equity in German Hauck & Aufhäuser (H&A) Private Bank, successfully acquiring 99.91% of H&A's equity. H&A thus becomes a subsidiary of Fosun International. Through the acquisition of H&A, Fosun Group has strengthened its comprehensive financial capabilities in Germany and Europe, and also taken an important step in building a global family wealth management platform.

"We are pleased with the positive decisions and support from the European Central Bank and the various financial regulatory authorities. The acquisition of H&A is a strategic investment for us and provides us with an investment channel into Europe's major economies," Fosun Chairman Guo Guangchang stated. "With our investment plan and abundant international resources, we can effectively help H&A strengthen its market position in Germany and the European banking sector, while also providing investment opportunities in the German market for investors from China and other Asian countries."

"With the support of long-term shareholder Fosun, we are fully capable of building bridges for Chinese companies investing in the German and European markets. At the same time, we can also help German enterprises enter the Chinese market. H&A will continue to rely on its high-quality brand and independence to become a reliable partner for our clients," H&A's management stated. "In the past few months, we have fully understood the opportunities that cooperation with Fosun can bring to us and have already begun systematically developing our business in China. Together with Fosun, we will increasingly leverage synergies and significantly expand to enrich our investment portfolio."

Eurasian Consulting GmbH, as the sole M&A advisor to Fosun Group, facilitated the transaction. From initial contact to July 8, when the majority shareholders formally accepted the offer in writing, it took just three months to assist the client in reaching an agreement on this acquisition.

Please see the relevant announcements:

http://media.corporate-ir.net/media_files/IROL/19/194273/2016/Announcement%20_HA%20closing%20C%2020160909.pdf

https://www.hauck-aufhaeuser.de/d/Downloads/Public/Presse/PM_Hauck_Aufhaeuser_Closing.pdf