Dalian Wanda Group to Sell 17% stake in Spanish Football Club Atletico de Madrid to Israeli Billionaire

Dalian Wanda Group to Sell 17% stake in Spanish Football Club Atletico de Madrid to Israeli Billionaire

Dalian Wanda Group has agreed to sell 17% stake in Spanish football club Atletico de Madrid to Quantum Pacific Group, owned by Israeli billionaire Idan Ofe.  Quantum Pacific’s stake in the football club will rise to 32 per cent after 17% acquisition.  In 2015, Dalian Wanda Group has acquired a 20% stake in the football club for $52 million.  Dalian Wanda Group will continue to remain a sponsor and the stadium will continue to be called Wanda Metropolitano.

” Dalian Wanda Group to Sell 17% Stake in Spanish Football Club Atletico de Madrid to Israeli Billionaire “

Dalian Wanda Group founder and Chairman Wang Jianlin has been reducing debts in the group by selling non-core assets and stake disposals.  Dalian Wanda Group was established in 1988 and in 1989, Wang Jianlin  become the Chairman of Dalian Wanda Group.  He is one of Asia’s richest man, with a personal fortune of around $25 billion.

Since late 2016, China has been scrutinising offshore investments.  Dalian Wanda Group had purchased AMC Theatres (largest American theatre) for US$2.6 billion in 2012 and Hollywood studio Legendary Entertainment for $3.5 billion  in 2016.  It also has international sports businesses such as World Triathlon Corporation, the company that organises global Ironman events, which was acquired for $650 million in 2015.

Israeli billionaire Idan Ofe, is the founder of Tanker Pacific, Pacific Drilling, Quantum Pacific Group and Israel Corporation, the largest public company on the Tel Aviv Stock Exchange.  Born in 1955, he has an estimated personal fortune of $3.5 billion.

Sources: SCMP, Reuters, CNN

 

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About Wanda Group

Wanda Group was established in 1988 and has developed into a conglomerate of commercial management, culture, real estate and finance. It ranked 380th on the Fortune Global 500 List in 2016. In 2017, its assets amounted to 700 billion yuan with revenue of 227.3 billion yuan.  Wanda Commercial holds a combined 31.51 million square meters of property spaces. It has opened 239 Wanda Plaza projects in such Chinese cities as Beijing, Shanghai, Chengdu and Kunming. Wanda Cultural Industry Group is China’s largest cultural enterprise, with a revenue of 63.78 billion yuan in 2017.

Wanda Internet Technology Group, as China’s only Industry + Internet large open platform, has Ffan Technology, 99Bill, Credit Rating Company, Online Credit Company, Big Data and other companies. It uses big data, cloud computing, artificial intelligence, scene application and other technologies to realize digital upgrades of industrial entities and provide new consumer services for consumers.

Wanda Financial Group has investment, asset management, insurance and other companies, and aims to achieve a full-licensed financial operation in the future.

Visit: Wanda Group

 

About Wang Jianlin

Born in 1954, Wang Jianlin served in the Army between 1970 and 1986, at which time he was appointed Office Director of the Xigang District Government in Dalian. He has served as Chairman of the Dalian Wanda Group since 1989.

Wang Jianlin has previously served as a deputy to the 17th National Congress of the Communist Party of China. He was also a member of the 11th Chinese People’s Political Consultative Conference Standing Committee and has also served as a vice chair of the 11th Congress of the All-China Federation of Industry and Commerce. He currently serves as vice chair of the China Charity Confederation; vice chair of the China Folk Chamber of Commerce; vice chair of the China Enterprise Confederation and the China Enterprise Directors Association; vice chair of the China General Chamber of Commerce; vice-chair of the Gl

Visit: Wanda Group

 

 


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Wanda Group Chairman Wang Jianlin is China’s Richest Person

Image Credits: DALIAN/CHINA, 12SEPT09 – Wang Jianlin, Chairman and President, Dalian Wanda Group, speaks during the Success versus Survival in a Global Downturn session at The World Economic Forum Annual Meeting of the New Champions in Dalian, China 10-12 September 2009. Copyright at http://www.weforum.org World Economic Forum / Natalie Behring

Wanda Group Chairman Wang Jianlin is China’s Richest Person

According to the Hurun Report The China Rich List 2016, Wang Jianlin is still China’s richest person with a fortune of $32.1 billion. Wealth in Asia is now moving ahead of US. There are in total 754 Chinese billionaires. This is in comparison with 535 billionaires in US.

“There are in total 754 Chinese billionaires. This is in comparison with 535 billionaires in US. “

~ Hurun Report

Although Jack Ma had a 41% surge in wealth, Wang Jianlin still managed to hold onto the top spot. In September he delisted his property arm from Hong Kong stock exchange to re list on Mainland China. This could propel him to a $50 billion fortune, making him the world’s Top 10 Richest.

Related Reports: Hurun Report, Finews Asia

 

About Hurun Report

Established as a research unit in 1999 by British accountant Rupert Hoogewerf, Hurun Report Inc. has grown into a leading luxury publishing group based in Shanghai, China. Hurun Report Inc has four divisions: Media; Conferences & PR; Market Research; and Investments. Within the Media Division, our titles are Hurun Report, Hurun Schools Guide, Hurun Horse & Sports, Wings & Water.

Visit: Hurun


The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

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China Billionaires May Switch their Stock Market Listings from Hong Kong to China

China Billionaires May Switch their Stock Market Listings from Hong Kong to China

Two of China’s largest developers took steps that moved them closer to potentially switching their stock market listings from Hong Kong to China, where their top executives have said they can get higher valuations.

“Two of China’s largest developers took steps that moved them closer to potentially switching their stock market listings from Hong Kong to China.”

~ Bloomberg

On Monday, Dalian Wanda Commercial Properties Co., controlled by billionaire Wang Jianlin, requested a suspension of its shares pending an announcement pertaining to an exchange code on mergers and takeovers, as Wang pursues a buyout plan that will help him re-list the shares on the mainland.

Related Reports: Bloomberg, Reuters

 

About Dalian Wanda Group

Dalian Wanda Group was founded in 1988 and is engaged in three key business activities – commercial properties, culture, and finance. In 2015, its assets amounted to 634 billion yuan with revenue of 290.16 billion yuan. Wanda Commercial Properties is the world’s largest real estate enterprise and the biggest five-star hotel owner in the world. Wanda Cultural Industry Group, meanwhile, is the largest cultural enterprise in China, and the world’s largest cinema operator. It is also the world’s biggest sports company. Elsewhere, Wanda Financial Group is the largest internet finance enterprise in China. By 2020, Wanda Group aims to become a world class multinational corporation with assets of $200 billion, market capitalization of $200 billion, revenue of $100 billion and net profits of $10 billion.

Visit: Wanda Group


The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

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