Dalian Wanda Group

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Dalian Wanda Group Corporation Limited
Type Private
Industry Conglomerate
Founded 1988 (Dalian)
Headquarters Dalian, China
Key people Wang Jianlin (Chairman)[1]
Ding Benxi (President)
Products Plazas, yachts
Services Hospitality, cinemas, retailing, property development
Net income [1]
Owner(s) Wang's family owns 100 percent of Dalian Wanda directly and through holding company Dalian Hexing Investment Co.[1]
Subsidiaries AMC Theatres
Sunseeker International
Website http://www.wanda.cn

Dalian Wanda Group Corporation Limited is a Chinese conglomerate company with activities in real estate, tourism, hotels, and entertainment. It is headquartered in Dalian in Northeast China.

History

The company was founded in 1988 as a residential real estate company.[2] Since 2005, it has diversified into areas including hotels, cinemas, karaoke centres, and department stores.[1]

Dalian Wanda acquired the United States-based cinema operator AMC Theatres[1] in May 2012 for about USD $2.6 billion.[3] The company website said that its existing Wanda Cinema Line was “Asia’s largest” cinema operator and following the merger it is the world’s largest cinema operator.[4] The acquisition went through successfully in September 2012.

In June 2013, Dalian Wanda acquired the British yacht builder Sunseeker International for USD $500 million. This acquisition will give them a 92% stake in the company.[5]

Operations

As of 31 March 2012, Dalian Wanda owned 49 Wanda Plazas, 28 five-star hotels, 730 cinema screens, 40 department stores, and 45 all karaoke centres throughout China.[6]

In June 2013, Dalian Wanda planned to invest USD $1.1 billion to develop a five star hotel in London. The new hotel will be built by the Thames river[1] in Vauxhall, South London as part of the Nine Elms regeneration. The move was welcomed by the Mayor of London, Boris Johnson.[7]

In June 2013, the company purchased of Sunseeker International Ltd., a U.K.-based maker of yachts used in the James Bond movies, for $1.6 billion.[1]

Sponsorships

Since 2011, Dalian Wanda has been the name sponsor of the Chinese Super League football league.[8] From 1994 to 2000, it was the primary sponsor for the Dalian Shide F.C. (which was named Dalian Wanda FC at the time).

References

  1. ↑ 1.0 1.1 1.2 1.3 1.4 1.5 1.6 Wei, Michael (19 August 2013). "Property Mogul Emerges as China's Richest Person". Bloomberg News. Retrieved 19 August 2013. 
  2. ↑ "Wanda Group threw 5 billion yuan for rock-bottom price bargains, and Wang Jianlin predicted a complete shuffle for the real estate industry - Column of Wang Jianlin - About Wanda - Dalian Wanda Group". Wanda.cn. 2008-11-29. Retrieved 2012-05-22. 
  3. ↑ Associated, The. "News Summary: AMC theater chain to be sold". BusinessWeek. Retrieved 2012-05-22. 
  4. ↑ "Wanda Buys US Movie Chain AMC - News - Dalian Wanda Group". Wanda.cn. Retrieved 2012-05-22. 
  5. ↑ http://www.bbc.co.uk/news/business-22963760
  6. ↑ "Introduction - About Wanda - Dalian Wanda Group". Wanda.cn. Retrieved 2012-05-22. 
  7. ↑ http://www.bbc.co.uk/news/business-22963760
  8. ↑ "Dalian Wanda to invest millions in Chinese football « Soccerex". Soccerex.com. Retrieved 2012-05-22. 

External links


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