Has China’s crackdown on capital flight claimed its biggest name to date?
The fate of a $1bn deal struck in November by Dalian Wanda, the Chinese real estate and entertainment giant, is in doubt. Sources with knowledge of Wanda’s buyout of the US’s Dick Clark Productions, the company behind the Golden Globe Awards, said last week that it was struggling to get approval to move money offshore, putting the transaction at risk.
Wanda’s deal could survive if approvals come in time, people close to the matter said. But the delay highlights a shift in Beijing’s economic priorities.
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