Fosun sells tower as China cracks down on outbound deals

Shanghai

CHINESE conglomerate Fosun Group, the aggressive dealmaker facing government scrutiny over its overseas acquisitions, has sold out of its first Sydney property investment.

A Fosun Property partnership sold an office tower for A$150 million (S$155 million) to a joint venture involving Australia's Propertylink Group, according to a Propertylink statement on Monday. The purchase price in 2015 was A$116.5 million.