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Wanda Group Plans Five `Substantial' Acquisitions as Sales Slump

  • Jianlin's Wanda aims for 3 overseas deals, 2 domestic ones
  • Wanda forecasts that sales will decline 12% this year
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Dalian Wanda Group Co., the property-to-entertainment conglomerate headed by Asia’s richest man, is planning five "substantial" acquisitions this year as the company braces for a drop in sales.

Wanda’s pursuit of targets will focus on companies in the entertainment and sports industries, Chairman Wang Jianlin said at a briefing in Hong Kong on Tuesday, without naming any companies. Earlier, Wanda said it’s aiming to complete three overseas purchases and two domestic ones, excluding cinema chains.