Fosun eyes Peak Re sale

Fosun International (0656) is weighing strategic options for its Hong Kong-based Peak Reinsurance Company as the Chinese conglomerate looks to pay off debt.

Fosun is working with a financial adviser to consider its options, including a potential sale of its majority stake or a minority interest in the reinsurer, sources said.

Such a transaction could value Peak Re at US$500 million (HK$3.9 billion) to US$1 billion.