Caixin
BUSINESS & TECH

Wanda Sells Properties, Adds Investors

A view of the Beijing CBD Wanda Plaza, a commercial property owned by the Wanda Group. After bringing in strategic investors, Wanda's commercial property arm will cease developing property and instead focus on commercial management under the name Wanda Commercial Management Group. Photo: IC
A view of the Beijing CBD Wanda Plaza, a commercial property owned by the Wanda Group. After bringing in strategic investors, Wanda's commercial property arm will cease developing property and instead focus on commercial management under the name Wanda Commercial Management Group. Photo: IC

Real estate giant Wanda Group has sold two offshore properties and brought in new investors for its commercial property arm as part of its ongoing drive to shed debt and eventually relist on the Chinese mainland.

A group led by internet giant Tencent Holdings Ltd. will pay 34 billion yuan ($5.2 billion) for a 14% stake in Dalian Wanda Commercial Properties Co. Ltd., which delisted from the Hong Kong stock exchange in 2016, Wanda Group said on Monday.

ladingImg
You've accessed an article available only to subscribers
Try 4 weeks for $0.99
SUBSCRIBE
Share this article
Open WeChat and scan the QR code
Copyright © 2017 Caixin Global Limited. All Rights Reserved.