Date
20 October 2017

Fosun, Spice plan final bids for Forbes Media, Bloomberg says

Forbes Media LLC is expected to attract final bids Monday from China’s Fosun International Ltd. (0656.HK) and Singapore’s Spice Global Investments, among others, Bloomberg News reported, citing people with knowledge of the matter. Germany’s Axel Springer SE, which publishes the Russian edition of Forbes magazine, is also said to be interested in the business. Forbes, which is working with Deutsche Bank AG on the sale, is seeking as much as US$400 million, sources were quoted as saying. The sale of Forbes follows years of dwindling profits as the rise of digital media ate into advertising at the magazine, the report noted. 

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