Markets
By Bei Hu and Richard Macauley
March 30, 2024 at 12:59 PM GMT+8
Updated on
March 30, 2024 at 3:45 PM GMT+8
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%.
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Wanda to Cede Control of Its Mall Unit in $8.3 Billion Deal
By Bei Hu and Richard Macauley
March 30, 2024 at 12:59 PM GMT+8
Updated on
March 30, 2024 at 3:45 PM GMT+8
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%.
Have a confidential tip for our