Fosun Secures EUR670 Million Through Completion of German Private Bank HAL Sale

Rhea-AI Summary

Fosun International Limited (OTC:FOSUY) has completed the sale of its 99.743% stake in German private bank Hauck Aufhäuser Lampe Privatbank AG (HAL) for EUR670 million. The transaction, completed on June 30, 2025, delivered a double-digit internal rate of return (IRR) for Fosun.

While divesting HAL's banking business, Fosun retains full ownership of Hauck & Aufhäuser Fund Services S.A. (HAFS), its valuable asset servicing business that manages over EUR100 billion in assets across Luxembourg, Ireland, and German-speaking regions. HAFS will continue collaborating with HAL for fund administration services.

This strategic move aligns with Fosun's asset-light operating strategy and focus on core businesses. The company plans to increase investments in key sectors including biopharmaceuticals, cultural tourism, insurance, and healthcare, while pursuing its goal of achieving RMB10 billion in annual profits.

Positive

• Transaction generated EUR670 million in proceeds with double-digit IRR
• Retained ownership of HAFS with over EUR100 billion in assets under service
• Strategic alignment with asset-light operating model
• Continued collaboration between HAFS and HAL maintains service continuity

Negative

• None.

Fully Retains High-Growth Luxembourg Asset Servicing Business

HONG KONG, July 1, 2025 /PRNewswire/ -- On 1 July 2025, Fosun (Fosun International Limited, HKEX stock code: 00656, with its subsidiaries collectively the "Fosun" or the "Company") announced the completion of the sale of all 99.743% shares of German private bank Hauck Aufhäuser Lampe Privatbank AG (HAL) which were held by Fosun's subsidiary, Bridge Fortune Investment S.à r.l., on 30 June. Fosun received the transaction consideration attributed to its shareholding in HAL of EUR670 million on the same day, to be followed by a closing settlement in due course for any difference to the actual book value. This transaction has delivered a double-digit internal rate of return (IRR) for Fosun, underscoring the Fosun's strong capabilities in asset operation and value realization.

Since acquiring HAL (formerly Hauck & Aufhäuser, or H&A) in 2016, Fosun has transformed it into one of the leading private banks in Germany through in-depth operational management and strategic support of its ongoing mergers and acquisitions. Over the years, Fosun has realized substantial income through dividend. With this completion of this sale, Fosun has successfully divested HAL's banking business and no longer has any shareholdings in HAL. However, Fosun retains full ownership of its highly valuable asset servicing business, Hauck & Aufhäuser Fund Services S.A. and its subsidiaries (HAFS). Operating as an independent third party, HAFS maintains a leading position in fund establishment with more than EUR 100bn asset under service across the core markets of the European fund industry, namely Luxembourg, Ireland, and the broader German-speaking region, thanks to its outstanding service and expertise. After Closing, HAFS will continue to collaborate with HAL to provide fund administration services as part of the One-Stop-Shop model for Asset Servicing clients.

Retaining High-Growth Asset to Drive Asset Servicing Business Development

Fosun will continue to support HAFS in pursuing its independent growth strategy, with a focus on international business expansion and innovative fund solutions. HAFS' business is highly complementary to Fosun's financial operations in Europe, including insurance and asset management, and will further enhance synergies across the Group. Additionally, Fosun will leverage its global network to actively assist HAFS in expanding into emerging markets such as the Middle East and Asia, bolstering both its geographic reach and comprehensive operational capabilities.

Christoph Kraiker, CEO of HAFS, said, "Looking ahead, we will harness the global footprint and strong synergies of our shareholder, Fosun, to enhance operational efficiency and elevate service quality. Through ongoing investment and accelerated digital transformation, we strive to generate greater value for our clients."

Focusing on Core Business and Advancing an Asset-Light Operating Strategy

Fosun's successful divestment of HAL's banking business has unlocked the underlying value of the institution. At the same time, the strategic retention of its asset servicing business underscores the Company's commitment to focusing on core business and advancing an asset-light operating model.

Wilson Jin, Senior Vice President of Fosun International, stated, "The successful sale of HAL's shares marks a key milestone in Fosun's steadfast commitment to asset optimization and asset-light operations. Retaining HAFS' asset servicing business strongly aligns with the Group's asset-light operating model, unlocking potential for cross-regional synergies and long-term value creation. The smooth completion of this transaction once again demonstrates Fosun's strategic determination and execution capabilities in optimizing its asset portfolio and focusing on the development of core industries amid a complex economic environment."

Looking ahead, Fosun will remain firmly committed to its core business-focused strategy. While exiting certain asset-heavy projects and non-core industries, the Company will further increase its investment in industries where it holds key competitive advantages, such as biopharmaceuticals, cultural tourism, insurance and healthcare. Leveraging its global resource integration capabilities, Fosun aims to build a highly synergistic and efficient industrial ecosystem that drives holistic growth in corporate value. This strategic focus will enable the Company to deliver more high-quality products and services to customers worldwide and generate stable, long-term returns for both shareholders and society, thereby steadily advancing Fosun toward its goal of becoming a globally leading enterprise group with RMB10 billion in annual profits.

About Fosun

Fosun was founded in 1992. After more than 30 years of development, Fosun has become a global innovation-driven consumer group. Adhering to the mission of creating happier lives for families worldwide, Fosun is committed to creating a global happiness ecosystem fulfilling the needs of families worldwide in Health, Happiness, and Wealth. In 2007, Fosun International was listed on the main board of the Hong Kong Stock Exchange (stock code: 00656.HK). As of 31 December 2024, Fosun International's total assets amounted to RMB796.5 billion and it received an AA MSCI ESG rating.

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SOURCE Fosun

FAQ

How much did Fosun receive from the HAL bank sale?

Fosun received EUR670 million for its 99.743% stake in HAL (Hauck Aufhäuser Lampe Privatbank AG) on June 30, 2025.

What assets did Fosun retain after the HAL sale?

Fosun retained full ownership of Hauck & Aufhäuser Fund Services S.A. (HAFS), which manages over EUR100 billion in assets across Luxembourg, Ireland, and German-speaking regions.

How does the HAL sale align with Fosun's strategy?

The sale aligns with Fosun's strategy of focusing on core businesses and advancing an asset-light operating model while maintaining strategic assets like HAFS.

What is HAFS's relationship with HAL after the sale?

HAFS will continue to collaborate with HAL to provide fund administration services as part of the One-Stop-Shop model for Asset Servicing clients.

What sectors will Fosun focus on after the HAL sale?

Fosun will focus on increasing investments in key sectors including biopharmaceuticals, cultural tourism, insurance, and healthcare.