Dalian Wanda Commercial Properties Co., Ltd. completed the acquisition of 51% stake in Wanda Properties Investment Limited, 60% stake in Wanda International Real Estate Investment Co. Limited, 60% stake in Wanda Americas Real Estate Investment Co., Limited and 60% stake in Wanda Australia Real Estate Co., Limited from Wanda Hotel Development Company Limited.
July 05, 2018
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Dalian Wanda Commercial Properties Co., Ltd. signed a framework agreement to acquire 51% stake in Wanda Properties Investment Limited, 60% stake in Wanda International Real Estate Investment Co. Limited, 60% stake in Wanda Americas Real Estate Investment Co., Limited and 60% stake in Wanda Australia Real Estate Co., Limited from Wanda Hotel Development Company Limited (SEHK:169) on August 9, 2017. The consideration will be based on their net asset value and will be settled in cash. As on January 16, 2018, Dalian Wanda Commercial Properties Co., Ltd. entered into sale and purchase agreement to acquire 60% stake in Wanda International Real Estate Investment Co. Limited for HKD 2.04 billion. Under the terms of the transaction, sale shares will be acquired for HKD 374 million and will repay debt of HKD 1.7 billion. In a related transaction, Wanda Hotel Development Company Limited agreed to acquire Wanda Hotel Management (Hong Kong) Co. Limited and Wanda Culture Travel Innovation Group Co., Limited. The deal is subject to approval Board of Directors and shareholders of companies involved and compliance with the applicable requirements of The Stock Exchange of Hong Kong Limited and the Securities and Futures Commission of Hong Kong.
Dalian Wanda Commercial Properties Co., Ltd. completed the acquisition of 51% stake in Wanda Properties Investment Limited, 60% stake in Wanda International Real Estate Investment Co. Limited, 60% stake in Wanda Americas Real Estate Investment Co., Limited and 60% stake in Wanda Australia Real Estate Co., Limited from Wanda Hotel Development Company Limited (SEHK:169) on July 6, 2018.
Wanda Hotel Development Company Limited is engaged in property development, property leasing, property management and investment holding activities. The Company has property development, property investment and property management activities in the People's Republic of China (the PRC) and overseas. The Company operates through two segments: The PRC and Overseas. The PRC segment is engaged in the development of commercial and residential properties for sales and leasing in the PRC. The Overseas segment is engaged in the development of overseas property projects. The Company's subsidiaries include Wanda International Real Estate holding Investment Co. Limited, Wanda One (UK) Limited, Wanda Europe Real Estate Investment holding Co., Limited, Wanda Properties Investment Limited and Wanda Properties Investment Limited. The Company's properties under development include 1 Nine Elms Lane, London SW8 5NQ, the United Kingdom, and Plaza de Espana, 19, 28008, Madrid, Spain, among others.
Dalian Wanda Commercial Properties Co., Ltd. completed the acquisition of 51% stake in Wanda Properties Investment Limited, 60% stake in Wanda International Real Estate Investment Co. Limited, 60% stake in Wanda Americas Real Estate Investment Co., Limited and 60% stake in Wanda Australia Real Estate Co., Limited from Wanda Hotel Development Company Limited.