Wang Jianlin, China’s wealthiest magnate, this week announced a surprise sale of the majority of his hotel and tourism portfolio for 63 billion yuan to Sunac China.
Wang Jianlin sells most of Wanda hotel and tourism portfolio to rival magnate for US$9.3 billion
Sunac, founded by Shanxi tycoon Sun Hongbin, has spent at least 124 billion yuan (US$18 billion) in the last two years snapping up land bank and property projects around China, including Wanda’s hotels and theme parks.
Three…
Source : South China Morning Post
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