Chinese developer, Sunac China Holdings, bought 77 hotels and 13 tourist projects from Dalian Wanda Group holding. The deal totals 63.7 bln yuan ($9.4 bln), Wanda reported.
Sunac China Holdings bought 77 hotels and 13 tourist projects for 63.7 bln yuans from Dalian Wanda Group, the corresponding agreement was signed on Wednesday, Wanda has reported.
The sum from selling hotels totals 43.8 bln yuans ($6.5 bln). Wanda also sold major stockholding (91%) of its 13 tourist projects for 19.9 bln yuans ($2.9 bln).
Earlier the company reported that the projects would not be rebranded, and the hotels management would retain the jobs until the end of their contracts.
Dalian Wanda was founded in 1988 to deal with the construction of commercial and residential realty. Presently, it is also doing business in the sphere of sports, tourism, amusement and cinema. According to Forbes, Head of Dalian Wanda Group, Wang Jianlin, tops the list of the richest Chinese businessmen, with $31.3 bln.
