China’s Fosun in Bid For Forbes

Forbes China cover

HONG KONG — Diversified Chinese investment group Fosun is among the bidders for Forbes, the magazine publisher best known for its Rich Lists.

Fosun is one of six candidates shortlisted by the family controlled Forbes group’s bankers, according to the Financial Times.

The Hong Kong-stock market-listed Fosun publishes the Chinese version of the magazine.

Bids may run to some $475 million, and the Wall Street Journal reports that Fosun may bid in partnership with another firm called G2 Whale Capital.

Fosun has a wide range of investments spanning industrial, pharmaceutical and media sectors. It recently bought Portuguese insurer Caixa Seguros and is also said to be nearing a deal for travel group Club Med.

Its media interests include a 6% stake, bought last September, in NASDAQ-listed mainland Chinese producer-distributor Bona Film Group.

Earlier this month it emerged that another Chinese billionaire Chen Guangbiao is having a tilt at buying the New York Times from its family owners.

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