Property News · August 22, 2017

Wanda drops £470 million London purchase after state instructions on acquisitions


Dalian Wanda Group, magnate Wang Jianlin’s sprawling property conglomerate, has backed away from its third overseas acquisition in less than a year, taking the cue from last week’s government instructions directing Chinese companies’ outbound investments.
Wanda wasn’t the buyer of the 10-acre plot of land in London’s Nine Elms district that Vinci St Modwen sold for £470 million (US$593 million), according to a statement.
“The buyer is another company….

Source : South China Morning Post
Read more…Wanda drops £470 million London purchase after state instructions on acquisitions

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