Dalian Wanda, the Chinese property group, has announced plans for a clutch of new acquisitions and the formation of a financial holding company, as it extends efforts to branch out from real estate.
The privately held company, which in December listed its commercial property arm in Hong Kong, said yesterday that it would make six more acquisitions in non-property sectors this year — half of them domestic and the other half foreign — as part of a major reorganisation of its businesses.
According to the plans, posted on its website, the financial holding company is to be one of four “pillars” or business units, and reflects optimism about the financial sector in spite of the stock market gloom of the past four weeks.
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