Did Wang Jianlin sell Wanda Plaza? Why did Wang Jianlin sell Wanda Plaza?

Introduction: What happened when Wanda’s director sold Wanda Plaza to Wang Jianlin? Did Wang Jianlin sell Wanda Plaza? Why did Wang Jianlin sell Wanda Plaza? Come take a look with me below. Wang Jianlin sells Wanda Plaza

After selling the cultural tourism city and hotel properties, the only "heavy assets" held by 63-year-old Wang Jianlin are Wanda Plaza. However, Lao Wang also wants to sell it!

While people are still recalling Wanda Sunac R&F’s 63.7 billion yuan merger of the century, Wang Jianlin is simultaneously handling his trump card - Wanda Plaza.

On July 5, Nanchang West Lake Wanda Plaza quietly changed owners. The buyer was Zhujiang Life Insurance Co., Ltd., and the legal person changed from Qijie to Wangli. Pearl River Life was established in 2012 and is owned by Guangdong Pearl River Investment Holdings, Guangdong Financial Holdings, Guangdong New South Group, Guangdong Hanjian Investment, and Guangdong Yuecai Trust.

Among them, the legal representatives of Zhujiang Investment, New South Group and Hanjian Investment are Zhu Yihang, Zhu Layi and Zhu Weihang respectively. They are all family members of Zhu Mengyi, chairman of the board of directors of Hopson Development ().

Why did Wang Jianlin sell Wanda Plaza?

This is part of Wanda Plaza’s asset-light strategy. Nanchang West Lake Wanda Plaza is the first batch of asset-light projects.

Wanda also said that Wanda Plaza’s asset-light strategy was first proposed by Wang Jianlin in a speech at the Shenzhen Stock Exchange in April 2015: Wanda has reached the point where it wants to make money from its brand. The so-called asset-light model is to use other people’s money to invest in Wanda Plaza, and Wanda will export the brand and manage it. Of the 205 Wanda Plazas currently open, 31 are asset-light projects. Wanda Group’s 2017 semi-annual report also clearly announced that there were 14 newly opened projects in the first half of the year, 9 asset-light Wanda Plazas, and 26 Wanda Plazas were newly developed in the first half of the year, all of which were asset-light projects. In the future, most new development projects in Wanda Plaza will be asset-light projects. Why did Wang Jianlin sell Wanda Plaza

On July 10, Wanda announced that it would sell 91% of the equity in 13 cultural tourism cities to Sunac for a price of 33.595 billion yuan (later increased by 14.3 billion yuan) . From July 11 to July 19, the registered capital of six of the 13 Wanda Cities increased.

Among them, Wuxi Wanda City has increased its capital the most, with its registered capital increasing from 500 million yuan to 4 billion yuan; Chongqing Wanda City has also increased from 500 million yuan to 3 billion yuan; the remaining four Wanda cities Both increased their capital to 2 billion yuan.

This move is seen as a capital move after Sunac acquired Wanda City, because the capital increase can adjust the shareholder structure and shareholding ratio, and also means an increase in liquidity. If Sunac needs to borrow from financial institutions after the acquisition, its loan limit will be expanded accordingly.

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