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Wanda’s UK investment captures world media attention

Jun 21,2013

 

Dalian Wanda Group announced on June 19 to buy a majority shareholding in Britain’s luxury motor yacht manufacturer Sunseeker and develop a real estate project in Central London. The two projects will cost the group around GBP1 billion.

The announcement drew much attention from media worldwide. Following are excerpts of some of the foreign media reports about Wanda’s UK investment.

"Dalian Wanda has been building its overseas presence. Last year, it bought U.S. cinema chain AMC Entertainment Holdings Inc. for $2.6 billion and recently announced a bid for British yacht maker Sunskeeker International Ltd. Within China, Wanda already runs a chain of five-star hotels and has partnerships with hotel groups such as France's Accor SA, Hilton Worldwide Inc. and Starwood Hotels & Resorts Worldwide Inc.the U.S.” Read more>>

--The Wall Street Journal

"Speaking to the BBC's John Sudworth, Dalian Wanda Group chairman Wang Jianlin explained why his company was keen to seal the deals. He also insisted that Sunseeker workers in the UK had nothing to fear.” Read more>>

--BBC

“Dalian Wanda Group, led by China’s second richest man Wang Jianlin, today announced plans to invest 1 billion pounds, or $1.6 billion, in the United Kingdom,  the latest in a series of big overseas investment by businesses from the country.” Read more>>

--Forbes

“The emphasis on luxury in the latest announcements also underlines the role of high-end consumption in the world's second largest economy, with the country's burgeoning middle class playing a vital role in boosting sales of upmarket British brands such as Jaguar Land Rover and Burberry.” Read more>>

--The Guardian

“He aims to build Wanda hotels in eight to 10 cities outside China over the next decade in an effort to increase the company's global presence, primarily in countries with mature economies and legal systems.” Read more>>

--Reuters

“Stewart McIntyre, the managing director of Sunseeker, said the company now plans to dramatically increase production, from 180 yachts a year at present to a potential 370 yachts a year, in order to meet Chinese demand. ‘This was a very very attractive proposition from Wanda,’ he said.” Read more>>

--The Telegraph

 

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