What is the role of Wanda's sale of equity in the London project?

A few days ago, Wanda Hotel Development announced on the Hong Kong Stock Exchange that it would sell 60% of the shares of the company's project "Wanda London No.1" in London, England at a price of 35.6 million pounds (about RMB 3150,000 yuan), and the remaining 40% was held by Wanda Hong Kong.

The announcement did not disclose the buyer's information, but revealed that the buyer agreed to repay the debt of about 65.438+0.59 billion pounds (about 65.438+0.465438+0.2 billion yuan) to Wanda Hotel on behalf of the London project company, and the two items totaled 65.438+0.75438+0.00 billion yuan.

Wanda Hotel Development said in the announcement that the sale of the London project will help the company enhance its liquidity and financial status. The net proceeds from the sale of the project will be used to repay the loan and interest of Wanda Hong Kong and provide funds for the operation and development of the company's property development projects.

It is worth noting that "Wanda London No.1" project is Wanda's first overseas project and the largest single project invested by China real estate developers in Europe. With a 200-meter city tower and a 165-meter river view tower, they are the top luxury houses along the Thames, supported by the super five-star Wanda Mandarin Hotel.

Wanda claimed at that time that the project was the phased achievement of Wanda Group's overseas real estate going global and the beginning of the global layout of Wanda Group's high-end hotels. According to public information, in the early years, Wanda only spent 90 million pounds on the acquisition of this land, and the whole project cost 65.438 billion pounds.

This is not the first time that Wang Jianlin has adjusted his overseas assets. A month ago, Wanda Hotel Development announced that the controlling shareholder Wanda Overseas Co., Ltd. and Wanda Investment Holdings Co., Ltd. reached an agreement to transfer 65.04% of the shares at a price of HK$ 65,438+0.2 per share, which was wholly owned by Wang Jianlin and had no equity intersection with Wanda domestic companies.

For Wanda's selling project, Yan Yuejin, research director of the think tank center of Yiju Research Institute, said that it may be related to the tightening of overseas investment policies by the National Development and Reform Commission and the Ministry of Commerce, especially the business linked to real estate, which will make Wanda's investment face some problems such as income compression and re-adjustment of investment ideas.

"The takeover enterprise should have a good strategic relationship with Wanda, otherwise it is of little significance to simply acquire one or two projects." Yan Yuejin believes that a company like R&F has a high probability of taking over, and it is easy to gain an advantage in price negotiation, which will also reduce the communication cost between the two parties.