China Dalian Wanda acquired stake in Swiss sports firm for $1.2 billion
China's Dalian Wanda Group has acquired stake in the Swiss sports marketing firm Infront Sports & Media for $1.2 billion.
Infront focuses on distributing media rights for broadcasting sports events including the soccer World Cup and several Olympic winter sports. The acquisition will see Wanda Group, China's largest property developer which also controls the country's largest cinema chain, take a 68.2 percent stake in Infront. Three unidentified Chinese and global investors will take the remaining minority stake. (Infront generated about 800 million euros in revenue last year).
To see a list of investors from China similar to Dalian Wanda Group Co, check the recently updated 2015 edition of Chinese Investors Directory
More details follows from Reuters
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