The company, led by Wang Jianlin, is selling 13 Tourism City projects, including theme parks, and 76 hotels to real-estate developer Sunac China Holdings Limited in a $9.3 billion deal, both companies announced Monday.The deal, said to be the second-biggest real-estate deal in China, is supposed to be completed before July 31, but the brands, development plans and operations of the properties will remain unchanged.The statement did not include a reason for the sale, but Wang said in an interview with Chinese business publication Caixin that the deal would reduce Wanda’s debt and the company plans to pay off its bank loans by the end of this year.Wanda’s buying spree, particularly in Hollywood, was largely affected when regulators decided to take a closer look at the financing arrangements of some of its biggest international dealmakers.
NYS Entity Status
NYS Filing Date
APRIL 01, 2013
NYS DOS ID#
NYS Entity Type
DOMESTIC BUSINESS CORPORATION
2013 - CHINA CITY WANG INC
AROUND THE WEB
- China’s Wanda Sells Theme Parks to Sunac in $9.3 Billion Deal
By Beatrice Verhoeven, provided by
- Monday Jul 10, 2017
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