Wanda Is Said to Mull Sale of 20 Malls in Wealthy Parts of China
- Firm is exploring selling malls in Shanghai, Jiangsu, Zhejiang
- Wanda seeks to price some properties at about 700 million yuan
This article is for subscribers only.
Dalian Wanda Group Co. is weighing the sale of as many as 20 shopping malls in wealthy areas of China, according to people familiar with the matter, as the indebted conglomerate tries to avert a liquidity crunch.
The company has reached out to prospective investors including insurance companies and asset management firms about divesting some of its malls in Jiangsu and Zhejiang provinces as well as in Shanghai, said the people, who asked not to be identified as the information is private.