A consortium of investors led by private equity firm PAG has revealed a significant investment of $8.3 billion to acquire a 60% ownership stake in the mall unit of Dalian Wanda, a prominent Chinese property conglomerate.
The statement specifies that Dalian Wanda will maintain a 40% share in Newland Commercial Management, which serves as the parent company of Zhuhai Wanda Commercial Management Group Co.
Joining PAG in this investment are CITIC Capital, the Abu Dhabi Investment Authority, Mubadala Investment Company, and Ares Management Corporation.
David Wong, partner and co-head of private equity at PAG, emphasized the appeal of Newland’s competitive positioning and its status as an industry pioneer, foreseeing steady and escalating returns for investors.
According to the statement, Newland oversees operations at 496 expansive shopping centers spread across China.
The investment framework to restructure Zhuhai Wanda Commercial Management, previously announced by PAG and Dalian Wanda Commercial Management Group in December, has now been formalized through the agreement executed on Saturday.
