February 5, 2018 / 9:39 AM / 3 months ago

BRIEF-Wanda Group Says It Signs Strategic Investment Agreement With Alibaba, Cultural Investment

Feb 5 (Reuters) - Wanda Group:

* SAYS IT SIGNS STRATEGIC INVESTMENT AGREEMENT WITH ALIBABA, CULTURAL INVESTMENT

* SAYS ALIBABA AND CULTURAL INVESTMENT TO INVEST 7.8 BILLION YUAN FOR WANDA FILM’S 12.77 PERCENT STAKE

* WANDA GROUP SAYS ALIBABA AND CULTURAL INVESTMENT TO BECOME WANDA FILM’S SECOND AND THIRD BIGGEST SHAREHOLDERS AFTER TRANSACTION

* WANDA GROUP SAYS WANDA GROUP WILL HOLD 48.09 PERCENT STAKE IN WANDA FILM AFTER TRANSACTION, REMAINS AS CONTROLLING SHAREHOLDER Source text in Chinese: bit.ly/2nIPM9i Further company coverage: (Reporting by Hong Kong newsroom)

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