Property News · July 10, 2017

Wang Jianlin sells most of Wanda hotel and tourism portfolio to rival magnate for US$9.3 billion


Wanda Group, one of China’s most aggressive overseas asset buyers of recent years, has announced the disposal of the majority of magnate Wang Jianlin’s hotel and tourism portfolio to a rival, in the country’s biggest single property transaction, as it raises funds to repay loans.
Wanda will sell 76 hotels under its eponymous brand, along with 91 per cent equity in 13 theme parks and projects classified as culture and tourism to Sun Hongbin’s Sunac China for 63 billion…

Source : South China Morning Post
Read more…Wang Jianlin sells most of Wanda hotel and tourism portfolio to rival magnate for US.3 billion

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