Alibaba leads US$1.24b investment in film unit of China's Wanda
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
Beijing
CHINA'S Dalian Wanda Group is selling a US$1.24 billion stake in its listed film unit to a pair of investors led by Alibaba Group Holding Ltd, as the conglomerate looks to bring in strategic partners and raise new funds.
The property-to-entertainment firm will sell the combined 12.77 per cent in Wanda Film Holding Co Ltd to e-commerce giant Alibaba and state-backed Cultural Investment Holdings Ltd for a total of 7.8 billion yuan (S$1.64 billion).
Share with us your feedback on BT's products and services
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
OCBC is said to emerge as lead bidder for HSBC Indonesia assets
Middle East-linked energy supply shocks put Asean Power Grid back in focus
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
