Wanda buys realty project for $364m in Madrid
By Gao Changxin in Shanghai | China Daily | Updated: 2014-06-07 07:18
Conglomerate Dalian Wanda Group Corp Ltd announced on Friday the purchase of a landmark commercial project in Madrid for 2.25 billion yuan ($364 million), the latest in a series of high-profile international acquisitions.
Wanda bought the high-rise building from Spanish bank Banco Santander SA, which also has businesses in retail banking, asset management and insurance.
The purchase was conducted through Hong Kong subsidiary Wanda Commercial Properties (Hong Kong) Co Ltd and its Hong Kong-listed arm Wanda Commercial Properties (Group) Co Ltd, which is controlled by Wanda Commercial Properties (Hong Kong) Co Ltd.
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