Fosun plans to buy a minority share of Jorge Mendes’s company

The subsidiary company of Fosun International Limited, Fosun Entertainment HK, which focuses on entertainment and culture business, has just decided to buy 0.865% share of a company called START S.A., according to a source familiar with the business. 

The buyout price will be 2 million Euros, according to the source. 

START S.A. is owned by Jorge Mendes.

Fosun Entertainment HK hopes to explore the business in sports especially in football with this investment and will increase its share at a certain point.

According to the mutual agreement, Fosun plans to cooperate with Mendes and his companies and ultimately establish a China-based company with Fosun being the major shareholder. This company will focus on developing businesses on Chinese footballers’ management, commercial football match operations and footballers’ image rights management, etc with the best football resources from Mendes.