China's Fosun to sell German private bank to ABN Amro for $730m

Once-acquisitive conglomerate unloads assets to reduce debt

20240528 ABN AMRO and Fosun

Chinese conglomerate Fosun has struck a deal to sell a German private bank to the Netherlands' ABN Amro. (Source photos by Reuters)

ECHO WONG and KENJI KAWASE, Nikkei staff writers

HONG KONG -- Fosun International has reached a deal to sell German private bank Hauck Aufhauser Lampe to Dutch government-backed ABN Amro Bank for 672 million euros ($730.4 million).

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