Stock market-listed Wanda Film Holdings is to buy up Wanda Media in the latest reshuffle of businesses within the Dalian Wanda property to entertainment giant.
Wanda Films shares are suspended from trading on the Shenzhen Stock Exchange and the company says it needs a month to undertake the restructuring. The company says it will reveal details of the restructuring on Aug 3 and that the shares should return to active trading within a month.
No details of the valuation of the Wanda Media business was provided in a brief regulatory heads up. But it appears that Legendary Entertainment will not be part of the reorganization that the company says could result in a new share offering.
Dalian Wanda chairman, Wang Jianl…
Read the full article at: http://variety.com/2017/biz/finance/chinas-wanda-to-merge-film-units-1202491625/