The Real Deal New York

Fosun chair back in the US after disappearance

Guo Guangchang is visiting projects in New York and then heading to the circus

December 18, 2015 04:04PM

Guo Guangchang

Guo Guangchang

After being detained by authorities and setting off rumors that his company was in legal trouble, Fosun International chair Guo Guangchang is heading to the circus.

As it turns out, the “Chinese Warren Buffet” is not being restricted by Chinese authorities after being detained earlier this month. Guo announced on Friday that he is visiting projects and meeting with business partners in New York and then heading to the Fosun-backed circus group Cirque du Soleil in Canada.

The company’s New York real estate holdings including the 60-story, 2.2 million-square-foot 28 Liberty Street office building, which it acquired from JPMorgan Chase for $725 million in 2013.

Guo appeared earlier this week at his conglomerate’s annual meeting in Shanghai, following his disappearance, Reuters reported.

News of Guo’s detainment initially worried Fosun investors, who were concerned that the company was being pulled into Beijing’s crackdown on corporate graft.

Fosun president Wang Qunbin has said that the investigation mostly concerned Guo’s personal affairs and not company business. [Reuters] — Kathryn Brenzel