(Press release) – PAG, a leading Asia-focused private equity investment group, and Dalian Wanda Commercial Management Group Co. Ltd. announce that they signed a new investment agreement. Dalian Wanda is the parent company of Zhuhai Wanda Commercial Management Group Co., Ltd. Under the new agreement, PAG, together with other investors (the “existing investors”), will re-invest in Zhuhai Wanda with the proceeds redeemed from Dalian Wanda in accordance with their earlier investment agreement.
The existing investors made an investment of approximately USD5.9 billion (RMB38 billion) in Zhuhai Wanda in August 2021; PAG’s share was approximately USD2.8 billion (or about RMB18 billion). By the agreement of 2021, existing investors had the right to redeem their investment upon the due date.
Under the new agreement, Dalian Wanda will remain the largest single shareholder in Zhuhai Wanda, with 40% of shares outstanding. PAG and other investors will collectively own 60% of the company. Dalian Wanda and PAG, together with the other major shareholders, have pledged to further improve the governance of Zhuhai Wanda, maintain the stability of the management team, and jointly support the long-term growth of the business.
“This new agreement reflects our confidence in Zhuhai Wanda’s growth potential and its management capabilities,” said a PAG representative.
“Dalian Wanda appreciates the trust and support by the investors and will continue to support the development of Zhuhai Wanda,” said a spokesperson of Wanda.
