China’s Wanda Preparing to Sell Hoyts Australian Cinema Chain (Report)
Wanda Film, part of the Dalian Wanda group, has appointed financial advisers in Australia and may be preparing to sell the Hoyts cinema chain, according to local reports.According to the Australian Financial Review newspaper, investment bank Credit Suisse has been appointed by Wanda to find bidders for Hoyts. The bank’s task force, it says, is led by co-head of investment banking James Disney who has already informally been scouting for buyers.Wanda Film is listed on the Shenzhen Stock Exchange but has made no filing to the market or regulators.