Mar 30, 2024 07:22 PM
BUSINESS
Wanda to Cede Control of Its Mall Unit in $8.3 Billion Deal
00:00/00:00
Listen to this article
1x
Subscribe now
Listen to the full version
Listen to the full version
Photo: Bloomberg
(Bloomberg) — Dalian Wanda Group Co. has agreed to cede control of its shopping mall unit in a deal worth 60 billion yuan ($8.3 billion), implementing a December agreement to restructure Zhuhai Wanda.
Investors led by PAG will hold a combined stake of 60% in Newland Commercial Management, a newly formed holding company of Zhuhai Wanda Commercial Management Group Co., according to a statement on Saturday. Dalian Wanda Commercial Management Group Co. will control the remaining 40%.
You've accessed an article available only to subscribers
VIEW OPTIONS
Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.
Subscribe to both Caixin Global and The Wall Street Journal — for the price of one.
Share this article
Open WeChat and scan the QR code
- PODCAST
- MOST POPULAR
Sign in with Google
Sign in with Facebook
Sign in with 财新