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Cash-starved Chinese property group Dalian Wanda sells Shanghai luxury hotel

The cash-strapped Dalian Wanda Group sold its luxury hotel in Shanghai to Indonesian pulp and paper billionaire Sukanto Tanoto, at a reported price of between 1.44 billion and 1.66 billion yuan (US$204 million and US$234 million). ....

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Chinese billionaire Wang Jianlin loses control of Hong Kong IPO candidate in deal to avert US$5.3 billion crunch

Changes in control of Zhuhai Wanda, the world’s largest mall operator, came after Wang Jianlin’s Zhuhai Wanda failed to list in Hong Kong by end-2023 as stipulated under a 2021 deal with outside investors. ....

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