Wanda Sells Properties, Adds Investors
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.
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