China’s largest commercial property and entertainment conglomerate, Dalian Wanda Group, today announced a significant investment in British yacht builder Sunseeker.
Wanda will acquire a majority shareholding of 91.81% in Sunseeker, with the remaining 8.19% to be acquired by Sunseeker management. The deal has a total investment value of £320 million and is expected to close by mid-August.
Wang Jianlin, Wanda Group chairman comments: 'With the committed support of Wanda, Sunseeker is well-placed to take full advantage of opportunities in China, one of the world’s fastest-growing luxury yacht markets. We are confident that this will bring Sunseeker’s business to the next level.'
Stewart McIntyre, Managing Director of Sunseeker, says, 'We are thrilled to be joining the Wanda family. Support from Wanda will be instrumental in enabling Sunseeker to unlock the enormous potential of China’s rapidly expanding luxury yacht market.'
As reported earlier in June when news of the sale came to light, Sunseeker will remain a British company, headquartered in Poole, Dorset, and will maintain its existing production bases in the UK as well as its current workforce and management on the board – company founder Robert Braithwaite will continue to be involved in the management of the business.
In January 2012, we reported the sale of Ferretti to the Shandong Heavy Industrial Group, meaning that two of Europe's leading builders are now controlled by Chinese investors.