复星继续积极收购境外资产

While many Chinese companies have slowed or unwound overseas acquisitions, Fosun International, the investment group led by jet-setting dealmaker Guo Guangchang, has continued to buy up foreign asset and said it planned to spend $3.2bn on technology over the next three years.

在很多中资企业放缓或取消海外收购之际，成功的交易人郭广昌执掌的投资集团复星国际(Fosun International)仍在继续收购海外资产，称计划未来3年斥资32亿美元收购技术。

The Shanghai-based company, which controls assets ranging from Portugal’s largest listed bank Millennium BCP to French resort operator Club Med, doubled the number of overseas acquisitions it announced in 2017 compared with the year before.

复星控制的资产遍及世界各地——从葡萄牙最大上市银行千禧银行(Millennium BCP)到法国度假村集团地中海俱乐部(Club Med)。这家总部位于上海的公司2017年宣布的海外收购交易数量比上年翻了一番。

The company said on Wednesday that net profit rose 28 per cent in 2017 to Rmb13.2bn while net gearing decreased to about 50 per cent, down from more than 60 per cent a year earlier.

复星周三表示，2017年净利润增长28%，达132亿元人民币，而净负债率从上一年的逾60%降至了50%上下。

Wang Qunbin, chief executive, said Fosun would invest about $3.2bn in technology over the next three years, but did not give any details.

复星首席执行官汪群斌称，未来3年复星将在科技领域投资约32亿美元，但他没有透露任何细节。

Fosun’s ability to continue sealing cross-border deals while managing its debt has helped restore confidence in the group after several other aggressive Chinese investors have shown signs of pressure from domestic regulators to reduce debt and divest from some assets, such as property.

复星在管控债务的同时继续进行跨境交易的能力，有助于恢复外界对该集团的信心。此前，另外几家积极收购境外资产的中资企业显示出受到国内监管机构压力的迹象，不得不减少债务，剥离房地产等部分资产。

In response to a question on Wednesday about property investment overseas, Mr Guo said that “Fosun will comply with all Chinese regulation”.

周三，在回答有关海外房地产投资的问题时，郭广昌称“复星将遵守中国所有规定”。

The Chinese government issued rules last year aimed at curbing speculative investment in areas such as property and entertainment.

中国政府去年出台了旨在遏制房地产、娱乐等领域投机性投资的规则。

HNA Group and Dalian Wanda, two of China’s most active overseas investors in 2016, announced major divestments in 2017 and early 2018. Anbang Insurance, which owns the historic Waldorf Astoria in New York, has been taken over by the Chinese government and chairman Wu Xiaohui detained. The trial of the former Anbang boss for alleged economic crimes began on Wednesday in Shanghai.

2016年中国对外投资最活跃的集团中的两家——海航集团(HNA Group)和大连万达(Dalian Wanda)，在2017年和2018年初都宣布了重大的撤资计划。拥有历史悠久的纽约华尔道夫酒店(Waldorf Astoria)的安邦保险(Anbang Insurance)已被中国政府接管，董事长吴小晖被拘。这名涉嫌经济犯罪的安邦前掌门人本周三开始在上海出庭受审。

Although Fosun was originally named along with those three companies in a regulatory probe into excessive leverage, the company has shown no sign of slowing outbound investment.

虽然复星最初与上述三家公司一起在针对过度使用杠杆的监管调查中被点名，但该公司尚未表现出放缓对外投资的迹象。

It announced 32 overseas acquisitions worth $2.1bn last year, picking up from 16 deals worth $1.6bn in 2016, according to data from Dealogic. Those deals included the takeover of French butter maker St Hubert, in which it invested alongside state-controlled Beijing Sanyuan Foods.

Dealogic的数据显示，去年复星宣布完成32笔海外收购，价值21亿美元，较2016年（16笔，16亿美元）大幅增加。其中包括与国有控股企业北京三元食品公司(Beijing Sanyuan Foods)联手收购法国黄油生产商St-Hubert。

In what was considered a political coup for the company, Fosun bought 18 per cent of Tsingtao Brewery from Japanese beverage group Asahi for HK$6.6bn (US$841m), bringing home the stake in the historic Chinese brand from China’s primary geopolitical rival in the region.

在被认为是该公司政治妙招的一笔收购中，复星斥资66亿港元（合8.41亿美元）从日本饮料集团朝日(Asahi)手中购回青岛啤酒(Tsingao Brewery) 18%的股权，从中国在亚洲的主要地缘政治竞争对手那里购回了这一具有历史意义的本土品牌的股份。

It also pushed through a troubled buyout of an Indian pharmaceutical company, Gland Pharma, despite Indian regulators blocking the originally proposed transaction.

复星还完成了对印度制药公司Gland Pharma困难重重的收购，尽管印度监管机构阻挠了最初拟议的交易方案。

Last month it bought a controlling stake in Lanvin, France’s oldest surviving couturier.

上月，复星买下了法国历史最悠久的时装品牌Lanvin的控股权。

Fosun’s business model is based on a disparate collection of assets scattered across a number of countries. The assets are loosely grouped into three businesses — what it calls its happiness, health and wealth ecosystems — but show little connectivity with each other.

复星的商业模式是建立在分散于多个国家的不同资产的基础上的。这些资产在业务上大致分为三大类——即复星所谓的快乐、健康、富足的生态圈——但这些资产间似乎没什么联系。

For example, the happiness business includes fashion brands, resorts and food and drink producers. The company has bundled several Portuguese financial institutions along with a blockchain designer and a railway project into the wealth unit.

例如，“快乐”事业群包括时尚品牌、度假村及食品饮料生产商。该公司还将葡萄牙的几家金融机构、一家区块链设计公司和一个铁路项目算作其“财富”业务。