Dalian Wanda Group completes acquisition of yacht builder Sunseeker International
by Risa Merl
Announced in June, Chinese commercial property and entertainment conglomerate Dalian Wanda Group made a significant investment in British yacht builder Sunseeker International. Today, the Wanda Group officially announced the completion of its acquisition of Sunseeker.
The Chinese group's total investment value is £320 million, with Wanda holding a 91.81 per cent majority stake while the remaining 8.19 per cent is held by Sunseeker management.
'We are excited to embark on the next chapter in the development of Sunseeker’s business and look forward to building upon the company’s reputation of excellence,' said Wang Jianlin, Wanda's chairman. 'Wanda is well positioned to help Sunseeker capitalise on the trend we see for China and other growth markets to contribute significantly to global expansion in the luxury yacht sector over the next few years.'