Wang Jianlin’s Dalian Wanda Group continues to sell off piece of business units once touted as the future of the company, as a news report in China says the conglomerate will sell its online payment unit to e-commerce giant JD.com’s… Read More>>
Wanda Commercial Revenue Halves in H1, Stays on Course to Open 50 Malls Yearly
Dalian Wanda Group last week said that it is sticking to its plan to open 40 to 50 new plazas each year despite steep declines in revenue and profit at the conglomerate’s real estate and hospitality businesses during the first… Read More>>
Dalian Wanda Sells Chicago Project for $270M to Close Out Global Portfolio
Dalian Wanda Group last week announced that it had agreed to sell its 90 percent stake in a Chicago property project for $270 million, closing out the last of an overseas property portfolio that once included projects in the US,… Read More>>
MIrae Plans Anbang Hotel Deal Countersuit and More Asia Real Estate Headlines
Legal battles push viruses out of the headlines today as Korea’s Mirae Asset Management fires a fresh salvo in a court battle with China’s Dajia Insurance over a failed $5.8 billion hotel deal.
Also finding space in… Read More>>
Wanda’s AMC Facing Imminent Default as COVID-19 Empties Movie Theatres
American movie theatre chain AMC Entertainment Holdings Inc is said to be close to bankruptcy, eight years after Chinese conglomerate Dalian Wanda bought the Kansas-based company for $2.6 billion.
Shares in the NYSE-listed firm closed down 20 percent to $2.08… Read More>>
Investigation Finds Luckin Coffee Faked $310M in Sales and More Asia Real Estate Headlines
Greater China’s shopping situation was messy in the first quarter but Q2 might be on its way to surpassing the record retail wreckage of the first three months of 2020, as Luckin Coffee suspends its COO after an internal investigation… Read More>>
Wanda Sports Offloads Ironman for $730M After Stock Value Halves
Wanda Sports Group has agreed to sell its Ironman franchise to the owner of publishing house Conde Nast, just eight months after the company controlled by Chinese billionaire Wang Jianlin suffered 2019’s second-worst NASDAQ debut.
The sports and media unit… Read More>>
Dalian Wanda Faces $5.7B Debt Bill and More Asia Real Estate Headlines
A debt-laden mainland developer leads the way in Mingtiandi’s roundup of Asia real estate headlines today with the news that the company founded by billionaire Wang Jianlin needs to re-finance $5.7 billion of debt maturing this year.
In other news… Read More>>
Wanda Led China’s Top 10 Commercial Developers Again in 2019
Wang Jianlin’s Dalian Wanda Group may have been forced to unwind its overseas ambitions, but the billionaire’s property business in mainland China shows no signs of flagging after it hauled in operating income more than double that of its closest… Read More>>
SRE Group Directors Charged with Embezzlement and More Asia Real Estate Headlines
Embezzlement leads the way in Mingtiandi’s roundup of Asia real estate headlines today with the news that the chairman of SRE Group, who was detained in January, has now been formally charged with embezzlement, along with an executive director of… Read More>>
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