Chinese developer Sunac to buy $9.3 bn of Wanda assets
Sunac China Holdings
Shanghai - Egypt Today
Property Developer Sunac China Holdings plans to spend $9.3 billion on 76 hotels and a majority stake in 13 other assets from Chinese conglomerate Wanda, the two companies announced on Monday.
They gave little explanation for the deal, but Wanda is among companies that have been the target of official scrutiny into potentially risky loans stemming from an aggressive wave of overseas acquisitions.
Source: AFP
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