Property conglomerate Dalian Wanda has agreed to purchase 100% of the US sports company that runs the Ironman triathlon for US$650 million, The Financial Times reported. Wang Jianlin, Wanda’s owner and China’s richest man, described the purchase of the World Triathlon Corporation as representing his firm’s further transition away from being “a traditional property company”. Wang said that the sport has yet to catch on in China, but added he had no doubts it would: “The middle class, the managers at the top 500 companies, these are people that have enough money, and now they are looking for something spiritual.”
Categories