Fosun International (00656.HK) announced on July 1st that on June 28, 2024, Yu Hai (an indirect subsidiary of the company, as the seller) signed an agreement with YCH16 (as the buyer), under which the seller agreed to sell and the buyer agreed to purchase 49,999 shares of the target company's stock (as of the date of the agreement, accounting for 99.998% of the total shares of the target company), for a price of 40,837,218,888 Japanese yen (subject to adjustments). After the sale is completed, the seller will no longer hold any shares of the target company and the target company will no longer be a subsidiary of the company.
It is reported that the target company, Shinsetsu Co., Ltd., is a kabushiki kaisha established and registered under Japanese law. The scope of its business includes operating hot spring inns and restaurants, selling goods and mail-order businesses, real estate transactions, tourism, entrusted operation of hotels, restaurants and other leisure facilities, and other projects related to the above. The target company holds 100% equity of Tomamu Property Co., Ltd. and Hoshino Resorts Tomamu Co., Ltd., with Hoshino Resorts Tomamu Co., Ltd.'s main asset being a ski resort and resort in Tomamu, Hokkaido.