Fosun flags asset sales

HAVING spent up big on a $US15 billion global shopping spree across many diverse industries, Chinese giant Fosun International may be switching from buying to selling with up to $6 billion worth of assets being marked for active sale, a move that could include its stake in the Cliff Head oil field off Western Australia.

Fosun secured its interest in Cliff Head two years ago when it successfully spoiled a merger between Horizon Oil and ROC Oil Company, but its role in the Australian oil field has always been an oddity

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