Caixin
Oct 30, 2018 07:28 PM
BUSINESS & TECH

Wanda Slinks Out of Theme Park Business

* Sunac will have the right to rebrand the park management company and parks that were being developed under the Wanda brand

* Sunac said the deal will provide it with planning, design and construction management service capabilities for the 13 theme parks

(Beijing) — Real estate and entertainment conglomerate Wanda Group will sell the management arm of its former theme-park division to the division’s current owner, Sunac China Holdings Ltd., in its ongoing drive to pay down a heavy debt load after a multibillion-dollar spending spree.

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