Dalian Wanda’s $9.28 billion sale of its theme parks and hotels to developer Sunac has an unusual twist: Wanda is helping Sunac finance almost half of the deal. Regulatory filings show that Wanda, the giant Chinese property and entertainment company, will take out a three-year bank loan of 29.6 billion yuan ($4.35 billion) and lend the money to Sunac. Sunac will use the borrowed funds to pay Wanda to gain ownership of its theme-park business, according to the documents filed by Sunac on Tuesday. Neither Dalian Wanda nor Sunac disclosed the arrangement when Wanda announced the blockbuster deal on Monday. Both companies declined to provide further details beyond the public filing with the Hong Kong stock exchange. Sunac’s shares rose 14% Tuesday. In selling off its prized hotel and theme-park assets, Wanda is paring a heavy debt load that has attracted the scrutiny of China’s banking regulator, according to The Wall Street Journal.
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