Tuesday, July 23, 2019
Martin Hennecke

Fosun targets UK broker
Chinese conglomerate Fosun International (0656) is in discussions to buy British-based commodities broker Marex Spectron.

The deal to buy privately-owned Marex would expand the portfolio of Fosun, one of China's most acquisitive overseas dealmakers, in both financial services and commodities, of which China is the world's largest consumer and producer.

Fosun already owns iron ore, steel and oil companies.

It was reported that discussions have been ongoing for several months, with an announcement expected before the end of September.

The price was not immediately known.

Marex has been for sale for several years, as its private equity owners sought an exit from their investment.

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