Fosun CEO says Chairman Guo investigation mostly about his personal affairs

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Mr Guo, one of China's best-known entrepreneurs, had been helping the police with an investigation that mostly concerns his personal affairs, his investment conglomerate Fosun International missing-amid/79480/">said on Sunday. The company issued a statement later that day saying Guo was "currently assisting in certain investigations carried out by mainland judiciary authorities". The company will resume trading on Monday.

Caijing said today that Guo has "finalised" assisting in the inquiries and "returned home safely". Limited (HKG:1788), Mr. Guo Guangchang, executive director and chairman of Fosun International Limited (HKG:0656, ) reappeared this morning to attend a corporate event.

On Friday, Chinese news agency Caixin reported the closely held company had been unable to reach Guo since midday on December 10.

Fosun-related shares in both China and Hong Kong commanded investors' attention on Monday.

Several of China's top executives have temporarily gone missing this year, in the wake of Beijing's crackdown on its financial sector.

Trading in the shares of Fosun International, the group's main subsidiary, was halted "pending the release of an announcement containing inside information", it said in a statement to the Hong Kong stock exchange, where it is listed, as did another unit, Fosun Pharmaceutical. Often called "China's Warren Buffett" for his aggressive and carefully planned investment strategy, Guo set up Fosun and began investing in pharmaceuticals soon after graduating from Shanghai's Fudan University in the early 1990s.

Ai's wife was reportedly investigated on suspicion of manipulating the stock market.

Fosun Group's interest is diversified, ranging from media and insurance to real estate and retail.

Fosun and Mr Guo were named by a Chinese court in August in relation to a bribery case against Wang Zongnan, a former chairman of a state-owned food company who was jailed for 18 years.

Fosun group recently took control of French holiday group Club Med in a deal worth some $1 billion. Last year, it paid 1 billion euros (US$1.1 billion) for Portugal's biggest insurance company, Caixa Seguros. The company is in the process of acquiring German private bank Hauck & Aufhaeuser Privatbankiers KGaA and is among investors offering to take Chinese movie studio Bona Film Group Ltd. private. He said that unusually favorable arrangement reduced the amount of capital Fosun had to tie up in the company while making it a partner of state managers.



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