Tencent leads $5.4b investment in Wanda Commercial Properties

Tencent leads $5.4b investment in Wanda Commercial Properties

Photographer: Qilai Shen/Bloomberg

Tencent Holdings Ltd. is leading the acquisition of 14 percent of billionaire Wang Jianlin’s Wanda Commercial Properties Co. for 34 billion yuan ($5.4 billion), a deal that will begin the target company’s retreat from real estate development.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter