Dalian Wanda Group, controlled by Chinese billionaire Wang Jianlin, is selling another overseas asset to pare its multibillion-dollar debtload.Its Hong Kong-listed unit Wanda Hotel Development has agreed to sell its 90 per cent stake in the 101-storey Vista Tower for US$270 million to Chicago-based real estate company Magellan Parcel, according to a stock exchange filing on Thursday.The sale will generate a net gain of HK$94 million (US$12.1 million), it added, and hand Magellan Parcel full…
Source : South China Morning Post
Read more…Billionaire Wang Jianlin’s Wanda Group sells Chicago tower as it continues to trim multibillion-dollar debt















