Brief: Wanda Hotel Development And SUNAC China Agree To Terminate 21 Hotel Management Agreements
16/09/2021 15:30
Sept 16 (Reuters) - Wanda Hotel Development Co Ltd
0169.HK :
* 2 UNITS AND SUNAC CHINA REACHED AGREEMENT FOR EARLY
TERMINATION
OF HOTEL MANAGEMENT AGREEMENTS FOR 21 HOTELS
* WANDA PARTIES AGREED TO TERMINATION AND SUNAC CHINA TO PAY
SUM
OF RMB133.32 MILLION TO GROUP AS COMPENSATION FOR TERMINATION
* SUNAC CHINA ALSO AGREED TO PAY RMB68.59 MILLION TO SETTLE
ALL
OUTSTANDING PAYABLES TO GROUP ACCRUED UP TO 30 JUNE
Further company coverage: 0169.HK
((Reuters.Briefs@thomsonreuters.com;))
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