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Dalian Wanda’s founder Wang Jianlin is said to be considering selling the rest of the company’s film unit amid increasing debt repayment concerns. As per a Shenzhen exchange filing, he is planning to transfer his 51% stake in Beijing Wanda Investment Co. that controls Wanda Film Holding, to a subsidiary of China Ruyi Holdings Ltd. Details on the value of the purchase transaction was not mentioned. The film unit is considered one of Wanda’s core assets and thus the need to transfer control is said to further indicate signs of Wanda Group’s financial troubles. The film unit operates more than 800 movie theaters across China. China Ruyi Holdings will thus get full ownership of the unit after its 49% stake purchase of Beijing Wanda Investment for RMB 2.3bn ($320mn).
Wanda’s dollar bonds were slightly higher with its 11% 2026s up 0.6 points to 30.8 cents on the dollar.
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