Dalian Wanda Group Co.,Ltd. made a preliminary non-binding proposal to acquire remaining 28.3% stake in Wanda Sports Group Company Limited (NasdaqGS:WSG) for approximately $100 million on September 29, 2020. Under the terms of transaction, Dalian Wanda proposed to acquire all of the outstanding Class A ordinary shares, including American depositary shares representing Class A Ordinary Shares (“ADSs,” with every two ADSs representing three Class A Ordinary Shares), for $2.5 in cash per ADS, or $1.67 per Class A Ordinary Share. Dalian Wanda Group owns all Class B ordinary shares of the Company, representing approximately 71.68% of all the issued and outstanding shares of Wanda Sports Group. Buyer intends to finance the Offer with cash on hand. If the Offer is completed and the 90% Threshold has been met, Purchaser intends to undertake a compulsory acquisition of the remaining Class A Ordinary Shares that are not owned by Purchaser or any Associates, in accordance with Division 4 of Part 13 of the Companies Ordinance. If the Offer is completed without meeting the 90% Threshold, and taking into account any Depositary Sales, there remain 300 or more Class A Ordinary Shares of record, Purchaser may cause Wanda Sports Group Company Limited, following completion of the Deposit Agreement Termination/Delisting, to effect a share consolidation together with the Compulsory Acquisition and any Depositary Sale, as applicable to reduce the number of holders of Class A Ordinary Shares of record to below 300. The Share Consolidation would be subject to approval by the shareholders of Wanda Sports Group Company Limited. If there are fewer than 300 holders of Class A Ordinary Shares of record, including any Class A Ordinary Shares not tendered in the Offer and any Class A Shares delivered in a Surrender/Withdrawal, before or after the Share Consolidation, and after giving effect to any Depositary Sale, Purchaser intends to cause Wanda Sports Group Company Limited to undertake the SEC Deregistration. The board of Dalian Wanda Group Co.,Ltd. unanimously approved seeking the delisting of the ADSs from Nasdaq by filing a Form 25 with the SEC, such delisting to be effective upon, or shortly after, the Deposit Agreement Termination Date. Wanda Sports Group announced that its Board of Directors has formed an independent committee to consider the proposal. Committee comprised of Edwin Fung and Kenneth Howard Jarrett, each of whom is an independent and disinterested director of Wanda Sports Group Company Limited. The board of Dalian Wanda Group Co.,Ltd. unanimously approved seeking the delisting of the ADSs from the Nasdaq Global Select Market. The Offer is not subject to any financing or minimum tender condition. As on December 22, 2020, Independent Board Committee made a recommendation to the board of Wanda Sports Group Company Limited that the transaction is in the best interest of the Company and its shareholders, and are fair to the Unaffiliated Security Holders. The Offer commenced on December 23, 2020 and will expire on January 29, 2021. As of February 1, 2021, subsequent offer period has been commenced from February 1, 2021 to February 26, 2021. Deutsche Bank Securities Inc. and Deutsche Bank AG, Hong Kong Branch acted as financial advisors, Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisor, MacKenzie Partners, Inc. acted as information agent and American Stock. Transfer & Trust Company, LLC acted as tender agent to Dalian Wanda Group. Houlihan Lokey (China) Limited acted as financial advisor and rendered a fairness opinion to the independent board committee of the board of directors of Wanda Sports Group Company Limited and Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor for independent board committee of Wanda Sports & Media. Dalian Wanda Group Co.,Ltd. completed the acquisition of 18.4% stake in Wanda Sports Group Company Limited (NasdaqGS:WSG) on February 26, 2021.