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Wanda Sports Confirms Talks to Sell Ironman Triathlon Business

IRONMAN Hamburg

Photographer: Alexander Koerner/Getty Images

Wanda Sports Group Co., the China-based sports marketing and event promoter, confirmed that is engaging in preliminary discussions on a potential sale of its Ironman triathlon business.

No agreement has been reached and talks may not result in a transaction, the Chinese conglomerate backed by billionaire Wang Jianlin said in a statement Wednesday. Bloomberg News reported Tuesday that the company is working with an adviser and has held discussions with private-equity buyers that expressed interest in the business.