Fosun Group Buys Majority Stake in Austrian Luxury Textiles Maker
Shanghai & Frankfurt - Paul Hastings, a leading global law firm, announced today that the firm advised Fosun Group (“Fosun”), China’s largest private-owned conglomerate, in its US$40 million acquisition of a controlling 50.87 per cent stake and a follow-up capital increase in Vienna-listed luxury textiles maker and lingerie brand Wolford. This will trigger a mandatory takeover offer for the whole business.
Paul Hastings has represented Fosun on several key outbound transactions over the years including its recent acquisition of Brazilian brokerage and wealth management firm Guide Investimentos, 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.
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