Brief: Wanda Hotel Development Co Proposes Reorganisation

Wanda Hotel Development

04/12/2017 04:26

Dec 4 (Reuters) - Wanda Hotel Development Co Ltd  0169.HK : 
    * WANDA OVERSEAS SIGNED A NON- LEGALLY BINDING LETTER OF 
INTENT 
(LOI) WITH WANDA INVESTMENT HOLDING 
    * PURSUANT TO LOI 3.06 BILLION ORDINARY SHARES OF COMPANY 
WILL BE 
TRANSFERRED TO NEW HOLDCO AT HK$1.20 PER SHARE 
    * AS NEW HOLDCO FULLY OWNED BY WANG JIANLIN, CO'S ULTIMATE 
CONTROLLING SHAREHOLDER TO BE UNCHANGED AFTER PROPOSED TRANSFER 
    * REFERS TO  WANDA INVESTMENT HOLDING CO. LTD AS "NEW 
HOLDCO" IN 
ANNOUNCEMENT 
 
Source text for Eikon:  urn:newsml:reuters.com:*:nHKS6Klm5y 
Further company coverage:  0169.HK  
 
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