Guo guangchang biography of albert
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Fosun to weigh takeover of Belgium’s $11bn Ageas
The logo of Belgian insurance group Ageas is seen at the company’s headquarters in Brussels. Fosun International, the Chinese group backed by billionaire Guo Guangchang, is considering an offer for all or parts of the Belgian insurer in what could be its boldest move to expand its international footprint, people familiar with the matter said.
Shanghai-based Fosun is talking to advisers about alternatives including teaming up with a partner to split the Brussels-based company or increasing its current stake, the people said, asking not to be identified because the deliberations are private.
No final decisions have been made and Fosun may decide against pursuing a deal, they said.
Representatives for Ageas and Fosun declined to comment.
Shares of Ageas jumped to their highest in almost a decade on Wednesday, giving the company a market value of about €9.3bn ($10.9bn). The country’s biggest life insurance provider this month won court backing for an amended €1
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A 26-year-old woman worth $16.2 billion is the Chinese mainland's richest person, topping a list of tycoons whose wealth has soared amid a boom in stock and property prices, the business magazine Forbes said yesterday.
The fortune of Yang Huiyan - also Asia's richest woman - is based on shares in Country Garden Holdings Ltd, a real estate developer founded by her father, Forbes said. It said the company's Hong Kong stock market debut this year made billionaires of Yang and four other people.In second place was another developer, Hui Wing Mau, with a net worth of $7.3 billion. No 3 was Guo Guangchang, chairman of a manufacturing, retailing and real estate conglomerate, Fosun Group, with a fortune of $4.85 billion.
Their rise reflects a sharp rise in Chinese real estate prices over the past year.
Yang also represents an unusual case of second-generation wealth in China, most of whose richest people are self-made entrepreneurs still in their 30s and 40s.
Her net worth was more than seven times that of last year's richest mainland person, appliance retailer Gome's Huang Guangyu, who was worth $2.3 billion. Huang, also known as Wong Kwong-yu, dropped to No 10 on this year's list, even though his net worth rose by more than 50 percent to $3.6 billion.
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