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Wanda Hotel to buy $1 billion of assets from Wang-controlled businesses

Reuters  |  HONG KONG 

HONG KONG (Reuters) - Wanda Hotel Development Co Ltd , a unit of Chinese conglomerate Dalian Wanda Group led by Wang Jianlin, said it would buy assets worth over 7 billion yuan ($1.05 billion) from Wang-controlled companies as part of a restructuring.The Hong Kong-listed company said it would buy the entire equity interest in theme park operator Wanda Culture Travel Innovation Group Co Ltd from Wang's Beijing Wanda Culture Industry Group Co Ltd for 6.3 billion yuan.The deal would be settled either in cash or through the issue of shares or convertible bonds, it added. It will also buy hotel ...

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First Published: Thu, August 10 2017. 06:56 IST