Dalian Wanda Group has started negotiations on a proposal that would allow the conglomerate to avoid repaying about 30 billion yuan ($4.1 billion) to investors if its shopping mall business fails to complete its IPO this year, according to people familiar with the matter.
Chinese Conglomerate Wanda in Talks With Backers to Avert $4 Billion IPO Repayment bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
Dalian Wanda Group is selling a 49% stake in Beijing Investment to Hong Kong-listed gaming and film company China Ruyi for 2.26 billion yuan ($31 million).
HONG KONG : The market is closely watching whether a unit of Dalian Wanda Group will make a repayment deadline for a $400 million dollar bond early next week, as a failure would weigh on already weak market confidence in China's property sector. HOW MUCH DEBT DOES DALIAN WANDA HAVE?Dalian Wanda
The market is closely
watching whether a unit of Dalian Wanda Group will make a
repayment deadline for a $400 million dollar bond early next
week, as a failure would weigh on already weak market.