China's Wanda steps back from theme park, hotel drive with $9.3 bln Sunac deal | cnbc.com
Dalian Wanda Group said it would sell Chinese tourism projects and hotels to Sunac China for $9.3 billion, marking a step back for the property giant from its theme park ambitions. ADVERTISING The sale — the second-biggest real estate deal ever in China according to Reuters data — is however expected to help Wanda cut its debt pile and strengthen its case for a listing on the mainland after it delisted from Hong Kong last year. Wanda said it would sell 91 percent of 13 cultural tourism projects, that typically include theme parks and leisure complexes, as well as 76 hotels to the acquisitive Tianjin-based developer Sunac for a total of 63.18 billion yuan.
