Fosun scales back M&A splurge; seeks unicorns

After spending more than $9 billion on outbound acquisitions snapping up brand names all over the world since 2008, Fosun International, China’s largest privately owned conglomerate, says it will now slow foreign purchases and cut debt. 

“There is no doubt Fosun will be different in the next five years compared with the last five. We will make more effort on internal growth than on overseas acquisitions,” Liang Xinjun, chief executive of Fosun International told FinanceAsia in an exclusive interview on Friday. He aded the company will also hunt for unicorn firms with the goal of making big profits with small investments.

The...