China's Fosun to buy Dead Sea cosmetics maker Ahava for $77m

China's Fosun to buy Dead Sea cosmetics maker Ahava for $77m

Billionaire Guo Guangchang, Executive Director and Chairman of Fosun International, attends the annual general meeting of the Chinese conglomerate in Hong Kong, China May 28, 2015. REUTERS/Bobby Yip

Chinese conglomerate Fosun Group said it has agreed to buy Dead Sea cosmetics manufacturer Ahava for 290 million shekels ($77 million), a deal that will help it to tap increasing demand for health-focused and personal care products in China.

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