Some analysts believe that, having delisted from the Hong Kong market past year, a smaller debt pile will strengthen the argument for relisting in mainland China. The price tag for the hotels is 33.6 billion yuan.
With the latest deal, Sun targeted assets from fellow-billionaire Wang Jianlin, who was among the most acquisitive Chinese tycoons up until a year ago.
After the deal, 50 million square meters of saleable gross floor area will be added to Tianjin-based Sunac's land bank, making it one of the largest property developers in the country by land area, after China Evergrande.
The deal indicates that "Wanda is running out of options to raise funds through normal financing channels", said Ivan Han, Shanghai-based analyst with financial information provider Morning Whistle.
Wang told Caixin that Wanda would accelerate a push to increase its focus on film, sports, tourism, internet, finance and other business, at the expense of property development.
Wanda's expansion was aided by Beijing's encouragement of firms to invest overseas to find new markets, access technology and increase China Inc's influence. "The proceeds from the sale will be used to pay off loans".
Wanda had earmarked a more than 300 billion yuan investment for its cultural and tourism projects.
Sunac shares halted trading in Hong Kong on Monday, pending an announcement of a "very substantial acquisition", according to a regulatory filing. It has also been very active globally, buying U.S. cinema chain operator AMC Entertainment Holdings Inc and taking a controlling stake in USA film studio Legendary Entertainment previous year. "Sunac could be seeking more exposure outside of just purely property development, as growth of Chinese new home sales will likely slow in the long-run".
Starting with the draft picks the Brooklyn Nets will receive from the Toronto Raptors , they clearing won the trade. Injuries limited him to 26 games in his first season with the Raptors when he averaged 11 points.
David Okeke tallied eight points for Italy in the quarter to try to keep the team in the game, but Canada led 51-36 at the break. The Americans had a 62-53 rebound advantage and grabbed 30 offensive boards leading to 22 second-chance points.
Starting with " Despicable Me 3 ", which is headed for a $34 million second frame, or a 53% drop from last weekend. The fifth film in the Paramount franchise is expected to make just $6 million this weekend.
Although she has reached the semifinals at Wimbledon in the past, Halep has a hard matchup on Monday at the Grand Slam. A lot of people are going to look at her run so far and think that she's been on the brink too much.
He also announced on spot assistance of rupees ten thousand in favour of the NOKs of victims from Red Cross. Later the bodies of the soldier and his wife were handed over to his relatives who live in the Mendhar area.
Monday is a rest day and the fight for the overall title is set to resume next Thursday with the first big Pyrenean stage. I've just seen the images of Richie Porte's crash and that leaves you with a terrible feeling.
With a wonderful cast and a beautifully dark story by Stephen King , everyone has their fingers crossed for something incredible . If you destroy that tower (which is what the Man in Black really wants to do), you unleash unholy fury on Earth.
Respondent 1 refers to Prime Minister Sharif; Respondent 6 was Maryam; Respondent 7 Hussain; while Respondent 8 was Hassan. The Supreme Court said the petitioners and Sharif's family would be provided copies of the JIT's report.
Police body cam video that shows officers and firefighters rescuing two dogs from the extreme heat in Georgia has gone viral. Within 18 seconds, police were on the scene to rescue both dogs, according to local NBC affiliate WXIA.
Nigeria and Libya were exempt from the production cut deal at OPEC's meeting on May 25, 2017, due to internal political unrest. The two countries have been invited to a joint meeting between OPEC and non-OPEC on July 24 in St Petersburg, Russia.
Merkel also pointed out that most of the countries supported the Paris accord on climate change, while Trump has abandoned it. Trump (@realDonaldTrump) July 5, 2017Trade between China and North Korea grew nearly 40% in the first quarter.
Charlie Gard's new chance at life?
His parents want to bring him overseas for experimental therapy, which they say offers their son a chance of improvement. Baby Charlie Gard with his parents, Connie Yates and Chris Gard.
Drinking Coffee Can Help You Live Longer
It showed that coffee consumption was linked with a lower risk of death from diseases like circulatory and digestive diseases. But if you don't have that sensitivity, the researchers say this proves that 3 to 5 cups a day can be part of a healthy diet.
Honda US confirms 17th worldwide Takata airbag-related death
A company spokesman said the man had taken apart the car's center console, although it's not exactly clear what he was working on. Owners can go online and subscribe to Honda service manuals and find out proper procedures for many repairs.
Rafael Nadal crashes out of Wimbledon
The French Open champion had not dropped any of his last 28 sets in grand slams, but Muller took the first two off him. And it looked as though the pair would not be held up for too long when Muller took a two-set lead, leading 6-3, 6-4.
Omaha gas prices see sharp increase
Senior Petroleum Analyst, Patrick DeHaan, with GasBuddy.com says it's due to an uptick in oil prices since late June. The New York state average on Sunday was 7.2 cents lower than a month ago but 2.2 cents higher than a year ago.
Facebook warning message about hacker a hoax
If you've received a message that you believe is a scam, you should avoid responding and report the message to Facebook . People on social media have been warning one another not to accept a friend request from a person named Jayden K.
Wake to be held for slain NYPD officer
On Friday, Familia's oldest daughter, Genesis Villella, 20, released a statement , "She was incredibly amusing ". Statement from Officer Familia's daughter: Police say she had no prior contact with gunman Alexander Bonds .
NJ Transit and LIRR Commuters: What Are You Seeing Monday?
Sort of 'It is what it is. "We're pleased with what we saw", he said . "A lot of our region's economy is dependent on commuters". The construction is expected to last about eight weeks and will affect the Long Island Rail Road, New Jersey Transit and Amtrak.
DPO martyred, several injured in blast
Killa Abdullah Sajid Mohmand, who was critically wounded in the blast, succumbed to his injuries in the hospital. Balochistan Chief Minister Sanaullah Zahri and Interior Minister Chaudhry Nisar Ali Khan condemned the attack.
Moving Southern California Wildfire Forces Evacuations
The fire south of Oroville was one of more than a dozen burning in the state as firefighters worked in scorching temperatures to. In Colorado, residents of almost 500 homes outside the ski town of Breckenridge were allowed to return home on Friday night.
Record crowd watches US soccer match in Nashville
This year, nine stadiums will be used in the group stage with each stadium hosting two games from the same group on the same day. After that, the slate gets much easier with games against Martinique on July 12 in Tampa and Nicaragua on July 15 in Cleveland.
Lonzo ball Struggles in Debut, Clippers Upset Lakers
Ball started at the point guard position for Los Angeles in their first #Nba Summer League game versus the Los Angeles Clippers . The free agency period has just started, but so far, the offseason has gone as well as the Los Angeles Lakers hoped it would.