Wanda Commercial offer faces hurdles over price

Hong Kong

BILLIONAIRE Wang Jianlin is facing hurdles in his buyout bid for Dalian Wanda Commercial Properties Co, which could be the biggest privatisation Hong Kong's ever seen, after a US$460 billion Dutch fund said the offer is too low.

"We have concerns about the privatisation plan" because the offer isn't attractive, Yoo-Kyung Park, a director in charge of corporate governance at APG Groep NV's asset-management arm, said in an interview in Hong Kong. APG hasn't made a decision on which way it will vote on the US$4.4 billion transaction, she said.