Chinese conglomerate Fosun Group has invested 210.5 milion yuan (US$34.5 million) in Malaysian lifestyle restaurant chain Secret Recipe to become the firm’s second largest shareholder, the National Business Daily reported Monday, citing a company announcement. Fosun will help Secret Recipe to expand its business in the China market, Fosun’s chairman Guo Guangchang was quoted as saying. Secret Recipe, founded in 1997, now has more than 300 outlets in Malaysia, Thailand, Singapore, China and other countries. It entered the China market in 2007, has so far opened 50 outlets in cities such as Shanghai, Nanjing and Wuxi. The Malaysian company aims to have over 100 outlets in China by 2015, the report said.
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