China’s Fosun Group Acquires Brazilian Asset Manager
March 02, 2018
Shanghai & Sao Paulo- Paul Hastings, a leading global law firm, announced today that the firm advised Fosun Group (“Fosun”), China’s largest private-owned conglomerate, in its acquisition of Brazilian brokerage and wealth management firm Guide Investimentos. This marks Fosun’s third major acquisition in Brazil.
Founded over 50 years ago, Guide Investimentos is a subsidiary of the Brazilian bank Banco Indusval. Banco Indusval, a Brazilian commercial bank, will retain up to a 20% stake in Guide Investimentos. The acquisition responds to Fosun's strategy of investing and building operations in emerging markets, especially in Latin America.
Paul Hastings has represented Fosun in several key outbound transactions over the years including in its participation in the acquisition of Canada’s Cirque Du Soleil, and in its acquisition of a majority stake in Resolution Property Investment Management, the London-based private equity real estate fund manager.
Paul Hastings worked together with Brazilian law firm Costa e Tavares Paes Advogados to advise Fosun. The multi-jurisdictional Paul Hastings team was led by Shanghai based partners
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