Brief: Wanda Group Says It Signs Strategic Investment Agreement With Alibaba, Cultural Investment

Wanda Hotel Development

05/02/2018 09:26

Feb 5 (Reuters) - Wanda Group: 
    * SAYS IT SIGNS STRATEGIC INVESTMENT AGREEMENT WITH ALIBABA, 
CULTURAL INVESTMENT  
    * SAYS ALIBABA AND CULTURAL INVESTMENT TO INVEST 7.8 BILLION 
YUAN 
FOR WANDA FILM'S 12.77 PERCENT STAKE 
    * WANDA GROUP SAYS ALIBABA AND CULTURAL INVESTMENT TO BECOME 
WANDA 
FILM'S SECOND AND THIRD BIGGEST SHAREHOLDERS AFTER TRANSACTION 
    * WANDA GROUP SAYS WANDA GROUP WILL HOLD 48.09 PERCENT STAKE 
IN 
WANDA FILM AFTER TRANSACTION, REMAINS AS CONTROLLING SHAREHOLDER 
 
Source text in Chinese: http://bit.ly/2nIPM9i 
Further company coverage:  600175.SS  002739.SZ  BABA.N  
 
 (Reporting by Hong Kong newsroom) 
 ((hongkong.newsroom@thomsonreuters.com; (852) 2843-6441; 
Reuters Messaging: chyenyee.lee.reuters.com@reuters.net))