Thursday 24 May 2018
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freemalaysiatoday
5 months ago

China’s Wanda mulls sport unit IPO and sale of overseas assets

HONG KONG (Reuters) China’s Dalian Wanda Group is considering a Hong Kong listing for its sports assets as part of efforts to rationalize its portfolio that could also include other sales, according to five people familiar with the situation. The conglomerate last month tapped investment banks for a potential initial public offering of its sports businesses, three of the sources said. Citic Securities, China’s largest brokerage, is one of the banks involved, added one of them. Sponsored A spokesman for Citic Securities declined to comment. Wanda’s businesses range from real estate to football and cinemas but it has been rattled in the past year by a government-led crackdown on overseas deals and high leverage. The company is owned by Wang Jianlin, one of China’s richest men. An IPO of Wanda’s sports assets would include Infront Sports Media AG, a Swiss sports marketing company and World Triathlon Corp, the organizer and promoter of the Ironman race, according to three of the people. The two were acquired

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