Finance Associated Press, December 7 (edited by Hu Jiarong) Recently, Wanda's related actions can be described as frequent. From the previous failure of Wanda Commercial Management to go public, to yesterday gave up its controlling stake in Wanda Film. Today's market once again reported that Wanda Group intends to be located under **.
Wanda Plaza in first- and second-tier cities in exchange for working capital is currently negotiating with insurance institutions.
According to surging news reports, Zhuhai Wanda Commercial Management recently revealed in the process of communicating with investors that Wanda Group intends to be located in **.
Wanda Plaza in first- and second-tier cities in exchange for working capital is currently negotiating with insurance institutions. However, Wanda did not disclose which insurance institution it approached.
For Wanda's commercial real estate projects, the main product is the urban complex, which is to build a large Wanda Plaza, next to the construction of some office buildings, shops, residences, etc., to sell the supporting properties, and use the cash flow generated by the sales to invest in the Wanda Plaza.
In fact, as early as October this year, the insurance institution Dajia Insurance acquired Shanghai Zhoupu Wanda Plaza.
In terms of news, in October 2023, Dalian Wanda Commercial Management Group withdrew from the list of shareholders of Shanghai Wanda Plaza Real Estate, and Shanghai Jiasheng Management Consulting Partnership (Limited Partnership) and Wuhu Puyu Equity Investment Partnership (Limited Partnership) jointly took over 100% of the company's equity. Shanghai Jiasheng Management Consulting Partnership is 90% owned by Dajia Investment Holding Co., Ltd91%, Everybody Life Insurance Co., Ltd. *** indirectly holds shares.
According to public information, Shanghai Wanda Plaza Real Estate, which was established in November 2007, is the project company of Zhoupu Wanda Plaza. Opened in September 2009, Zhoupu Wanda is Wanda's second urban mixed-use project in Shanghai.
Yesterday announced the abandonment of Wanda Films.
According to Wanda Film's announcement yesterday, Wang Jianlin, the actual controller of the company, intends to transfer 51% of the shares of Beijing Wanda Investment, the controlling shareholder of the company, to Shanghai Ruyi Investment Management
What's more noteworthy is that as early as July 2023, Shanghai Ruyi Film and Television Production will start with 22The company acquired a 49% stake in Beijing Wanda Investment for a consideration of 6.2 billion yuan. Since Shanghai Ruyi Investment and Shanghai Ruyi Film and Television are the same actual controllers, after the completion of the acquisition, "Ruyi Department" will achieve a wholly-owned controlling stake in Beijing Wanda Investment, and thus become the largest shareholder of Wanda Film.
Therefore, Wanda Film said in the latest announcement that if the above matters are finally implemented, it will lead to a change of control of the company.
According to the data, as of June 30, 2023, Wanda Film has 857 opened theaters in China, with a cumulative box office market share of 16 in the first half of the year8%, has been ranked first in the country for 14 consecutive years. And China Ruyi has previously produced a number of popular film and television works, including "The Legend of Miyue", "Langya Bang", "Hello, Li Huanying", and "No War in Peking".
Why does Wanda frequently sell assets?
According to market analysts, perhaps due to the lack of hope for the short-term listing of Zhuhai Wanda Commercial Management, Wanda had no choice but to sell the equity of Wanda Film to pay for the funds required for the listing VAM agreement.
According to reports, Wanda had earlier signed a VAM agreement with investors to complete the listing by the end of 2023 at the latest, otherwise it would need to repay more than 30 billion yuan in equity repurchases.
Just last week, Wanda Commercial Management was revealed to solicit opinions from investors, plans to postpone the listing time to 2026 at the latest, and intends to introduce new investors.
Finance Associated Press Hu Jiarong).