Wanda Film Holdings, the entertainment arm of Chinese billionaire Wang Jianlin’s Wanda Group, announced that it will sell a 12.77% stake to e-commerce giant Alibaba and China’s Cultural Investment Holdings.
As per the deal, Alibaba will now own 7.7% of stake in Wanda Film Holdings while the state-backed Cultural Investment Holdings will have a share of 5.1%, according to a statement by the firm.
https://www.forbesmiddleeast.com/en/chinese-billionaire-jianlins-wanda-film-holdings-sells-1-24-billion-stake-to-alibaba-and-other-investors/
|