Wanda crosses finish line to clinch $650m WTC deal

China's Dalian Wanda has acquired Florida-based World Triathlon, owner of the Ironman brand, as part of an aggressive overseas diversification push.

China’s Dalian Wanda has acquired 100% of the World Triathlon Corporation WTC, the largest operator of Ironman triathlon events, for $650 million, Wanda said in a statement on Thursday.

The purchase of the Tampa, Florida-based WTC will make the Chinese company controlled by billionaire Wang Jianlin the largest sports operating company in the world, the statement said.

Furthermore, the takeover will enable Wanda to secure core resources and assets in the global sports industry and complete the formation of a comprehensive sports business, the statement added.

Bulking up

Primarily engaged in property development, the acquisition of the US sports company...

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