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1.Market Observations, 8.Was Sticky

11 Aug 2017 (AFR) – China’s Wanda restructures Australian projects – takes steps towards Australian exit

(11 August 2017, AFR, p14, by: Angus Grigg, Lisa Murray, Matthew Cranston, Su-Lin Tan )

‘China’s Wanda Group, under pressure from Beijing to crimp its offshore expansion and reduce debt, has sold a majority stake in its two flagship Australian real estate projects. The Hong Kong-listed Wanda Hotel Development said on Thursday it would sell a 60 per cent interest in its Sydney and Gold Coast developments to a company controlled by the group’s founder, Wang Jianlin.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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