Billionaire Wang Jianlin is facing hurdles in his buyout bid for Dalian Wanda Commercial Properties Co., which could be the biggest privatization Hong Kong’s ever seen, after $460 billion Dutch fund, APG Groep, said the offer is too low. APG hasn’t made a decision on which way it will vote on the $4.4 billion transaction, she said. Still, APG would make a profit from the deal if it sold out because it bought into the stock during its 2014 initial public offering. By contrast, BlackRock Inc. built up most of its holdings in Wanda Commercial in the second quarter of last year, when the stock peaked at HK$78, and stands to lose about HK$235 million ($30 million) if Wang’s HK$52.80-a-share offer goes through, according to data compiled by Bloomberg.
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