 "Tencent-led consortium to invest $5.4 bn in Wanda Commercial Properties")
Tencent Holdings Ltd is leading the acquisition of 14 per cent of billionaire Wang Jianlin’s Wanda Commercial Properties Co for 34 billion yuan ($5.4 billion), a deal that will begin the target company’s retreat from real estate development.
Online mall JD.com Inc, Sunac China Holdings Ltd and Suning Commerce Group Co — a retailer backed by e-commerce giant Alibaba Group Holding Ltd — will also take part in the acquisition of shares owned by private investors who backed Wanda’s delisting plan in 2016, the Chinese company said on its website.
The investment in China’s largest mall operator marks Tencent’s latest foray into
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