Dalian Wanda sold major China ski resort in June

2017-12-06 06:30:14 GMT2017-12-06 14:30:14(Beijing Time) Sina English

Dalian Wanda Group sold one of China's largest ski resorts to another conglomerate in June, online news website The Paper reported, although it did not give a deal value for the site billed by Wanda as a $3 billion investment project.

The report follows several large asset sales this year by the Wanda group, which is led by billionaire founder Wang Jianlin. 

Control of the Changbaishan International Resort in northern China was transferred to the Dalian Yifang Group on June 16, The Paper said in a Nov. 29 article citing the resort's registry.

It added that Wanda retained the management and operational rights to the resort.

Wanda declined to comment. It has previously described the 21 square kilometer resort as a 20 billion yuan ($3 billion) investment project - its first tourism project and China's largest ski resort.

Dalian Yifang Group, chaired by Sun Xishuang, is a close business partner of Wanda in many onshore and offshore projects, according to The Paper.

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