Chinese property giant Dalian Wanda Group says it has a war chest of US$5 billion each year to buy overseas businesses, Reuters reported. Just weeks after completing its buy-out of British yacht maker Sunseeker International, Chairman Wang Jianlin says that the company will continue to focus on the hospitality and entertainment industries and can spend over US$5 billion in a single acquisition if the right opportunity arises. Wanda Group, a privately-held conglomerate that operates businesses ranging from hotels and shopping malls to cinemas, has expanded rapidly outside China in recent years.
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