Fosun expresses support for Focus Media take-private
China's Fosun International, Focus Media’s second-largest shareholder, with a 17.2% stake, said the recent take-private proposal for the Shanghai-based advertising company by a private equity consortium is an attractive option for shareholders. Fosun’s announcement came a day after media reports indicated that the investment firm was unaware of the privatization plan.
On Monday, US-listed Focus Media announced a $3.5 billion offer from investors to take the company private, in what could be China's largest leveraged buyout. The bidders - CEO Jason Jiang, The Carlyle...
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