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Sunac to pay 63.2b yuan for Wanda assets in China's largest property deal

Tuesday, July 11, 2017 - 05:50

Sunac halted trading of its shares in Hong Kong on Monday pending an announcement of a "very substantial" acquisition.

Hong Kong

SUNAC China Holdings Ltd agreed to buy hotels, land and projects from Dalian Wanda Group Co for 63.2 billion yuan (S$12.9 billion) in China's largest property deal, as billionaire chairman Sun Hongbin moves to take advantage of competitors shedding assets.

Sunac will buy

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