Brief: Wanda Hotel Development enters framework agreement involving possible asset restructuring

Wanda Hotel Development

09/08/2017 16:09

Aug 9 (Reuters) - Wanda Hotel Development Co Ltd  0169.HK  
    * Enters framework agreement involving possible asset 
restructuring with connected persons 
    * Entered framework agreement with Beijing Wanda Culture 
Industry and Dalian Wanda Commercial Properties  
    * Acquisition of entire equity interest In Wanda Culture 
Travel Innovation Group by group from Wanda Culture 
    * Acquisition for a consideration which is provisionally set 
at RMB6.3 billion 
    * Acquisition of entire equity interest in Wanda Hotel 
Management (Hong Kong) co by group from Dalian Wanda Commercial 
for RMB750 million 
    * To dispose interests in Wanda Properties Investment, Wanda 
International Real Estate Investment 
    * To dispose interests also in wanda americas real estate 
investment and wanda australia real estate 
    * Disposal of assets to Dalian Wanda Commercial 
    * Consideration for disposals is expected to be based on net 
asset value of project companies 
    * Says disposal of equity interest in Wanda Australia Real 
Estate Co, being holding co of group's projects in Sydney and 
Gold Coast 
    * Company has applied for a resumption of trading in shares 
with effect from 9:00 a.m. On 10 August 2017 
 
Source text for Eikon:  ID:nHKS9LYbRK  
Further company coverage:  0169.HK  
 
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