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BRIEF-Wanda Hotel Development Co Proposes Reorganisation
December 4, 2017 / 4:38 AM / 8 days ago

BRIEF-Wanda Hotel Development Co Proposes Reorganisation

Dec 4 (Reuters) - Wanda Hotel Development Co Ltd:

* ‍WANDA OVERSEAS SIGNED A NON- LEGALLY BINDING LETTER OF INTENT (LOI) WITH WANDA INVESTMENT HOLDING

* PURSUANT TO LOI 3.06 BILLION ORDINARY SHARES OF COMPANY WILL BE TRANSFERRED TO NEW HOLDCO AT HK$1.20 PER SHARE

* AS NEW HOLDCO FULLY OWNED BY WANG JIANLIN, CO‘S ULTIMATE CONTROLLING SHAREHOLDER TO BE UNCHANGED AFTER PROPOSED TRANSFER

* REFERS TO WANDA INVESTMENT HOLDING CO. LTD AS “NEW HOLDCO” IN ANNOUNCEMENT Source text for Eikon: Further company coverage:

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