Caixin
Feb 13, 2019 12:52 AM
BUSINESS & TECH

Wanda Pares Down Retail Assets With Store Sales to Suning

Wanda Department Stores will sell 37 outlets to Suning.com. Photo: VCG
Wanda Department Stores will sell 37 outlets to Suning.com. Photo: VCG

China’s debt-ridden conglomerate Dalian Wanda continued paring back assets by selling its remaining 37 department stores to e-commerce giant Suning.com in another move to consolidate the business and pay down debts.

Suning, one of China’s largest online retailers, will acquire the 37 stores from Wanda Department Stores Co. Ltd., a subsidiary of Wanda, for an undisclosed amount, according to a company press release Tuesday.

You've accessed an article available only to subscribers
VIEW OPTIONS
Share this article
Open WeChat and scan the QR code
GALLERY
Copyright © 2017 Caixin Global Limited. All Rights Reserved.