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Film

Wanda Increases Price Tag On Theme Park Sale, Adds Second Buyer

China's Dalian Wanda Group has altered its proposed deal to sell off theme parks and 77 hotels to Sunac China, which was announced last week. It has since upped the price tag and switched buyers for its hotels after local banks scrutinized the company's credit risk. In a joint announcement Wednesday, Wanda said it was…

By Diana Lodderhose
Jul 19, 2017 7:41 am
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Business

In Massive $9.3B Deal, Wanda Selling Hotels & Theme Parks To China’s Sunac As It Beats Retreat From Disney Rivalry

In what is thought to be the Middle Kingdom’s second-largest property deal ever, Wang Jianlin’s Dalian Wanda Group said today it is selling 76 hotels and 91% of 13 tourism projects to developer Sunac China for $9.3B. While Wanda did not give a reason for the sale, Wang told Chinese financial daily Caixin that funds…