Wanda Hotel 870 million purchase mother liquor business

Following the announcement of the asset restructuring plan last month, Wanda Hotel (00169) announced yesterday that it has entered into a non-binding framework agreement, said Wanda Group will take the first step in asset restructuring!

Wanda Hotel announced that it will purchase up to 878 million yuan to the parent company Wanda commercial real estate (million business) acquisition Wanda hotel management Hong Kong (Wanda wine tube) the entire issued share capital. Wanda is principally engaged in hotel management and operations, currently manages and operates 65 hotels and has been contracted for another 13 third-party hotels under construction.

After the completion of the acquisition, Wanda Wine will continue to use Wanda brand free of charge, the future business scope will cover the hotel design, hotel construction management and other ancillary business.

As for the earlier Wanda Group to the R & F Properties (02777) and Rong Chong China (01918) to sell the hotel assets, will also continue to manage Wanda wine tube to the existing contract expires, R & F and Rong Chong also granted priority renewal rights to Wanda The Wanda Wine Management Most hotel management contracts have a remaining period of approximately 15 years and are expected to continue to grow steadily and steadily.

The next step is to deal with the brigade project

Wanda Hotel announced on August 10 this year, intends to the parent company million and the same department of Wanda cultural industry, the acquisition of hotel management and cultural tourism business, were involved in 750 million yuan and 6.3 billion yuan, and transformed into Wanda Brigade Industry The flagship of the listing. In accordance with the earlier notice, after the infusion of hotel management business, the next step will be dealt with Wanda cultural industry’s other business, including the theme park and other brigade management business.

R & F announced last night that it had obtained written approval from Li Shilian and Zhang Li (holding 65.72% of the Company’s shares), so it was not necessary to convene an extraordinary general meeting to vote on the acquisition of hotel assets to Wanda Group. However, due to the need for more time, the company has applied to the Stock Exchange for a delay in sending a circular to the relevant transaction.