Property News · December 4, 2017

Wanda tycoon Wang takes control of Hong Kong-listed hotels unit for US$469 million


Chinese tycoon Wang Jianlin is buying a controlling 65 per cent stake in Hong Kong-listed company
Wanda Hotel Development for HK$3.67 billion (US$469 million), at HK$1.20 per share, the latest step in the ongoing reorganisation of his Dalian Wanda Group.
According to a regulatory filing on Monday, Wanda Investment Holding, a company wholly owned by Wang, has signed a non-legally binding letter of intent to buy 65 per cent of Wanda Hotel Development from Wanda Commercial Properties Overseas,…

Source : South China Morning Post
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