China Billionaire’s Fosun Sells Stake In Diamond Concern To Blackstone For $455 Million

Shanghai Yuyuan Tourist Mart, a retail subsidiary of China billionaire Guo Guangchang-controlled Fosun International, has agreed to sell 80% of its ownership in diamond-related investment arm Alpha Yu to a fund controlled by New York-based Blackrock for $455 million, Fosun said in a statement today.
The sale of the diamond processing and consulting business marks the latest…

This story appeared on, 2023-05-22.
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