Wanda offers $4.4 billion to take property unit private

China's richest man, Wang Jianlin, attempts to take his trophy assets private in Hong Kong as he plots a Shanghai IPO that could fetch a far higher valuation.

Wanda offers $4.4 billion to take property unit private

Dalian Wanda Group, controlled by China's richest man Wang Jianlin, is offering HK$34.5 billion $4.4 billion in cash to buy out its Hong Kong-traded commercial property unit, as it looks to take the business private less than two years after a $3.7 billion listing.

The proposal comes after the shopping-mall developer slashed it projection for 2016 contracted sales by almost 40% to Rmb100 billion $15.2 billion as it seeks to pull back from...

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