Los Angeles China USA Hollywood city Chinatown city Beijing Entertainment film information google Platform Enterprise Los Angeles China USA Hollywood city Chinatown city Beijing

China’s Wanda Group Sells Stake To Film & TV Producer Ruyi Holdings To Pay Down Debt

Reading now: 333
deadline.com

Dalian Wanda Group is selling a 49% stake in its investment arm to local film and TV producer China Ruyi Holdings in an on-going effort to reduce debt.

Wanda is selling the stake in Beijing Wanda Investment for $315M (RMB2.26BN) as part of fundraising efforts to repay debt of $400BN due this past weekend.

Wanda Investment owns a 20% stake in the group’s Shenzhen-listed entertainment division Wanda Film, which operates a cinema chain in China, finances Chinese films and retains a stake in Dune producer Legendary Entertainment.

Earlier this month, Wanda Investment separately sold an 8.3% stake in Wanda Film for $306N (RMB2.2BN). The buyer was Lu Lili, the wife of Shen Jun, controller of financial data platform East Money Information.

Read more on deadline.com
The website starsalert.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA