Wanda Sports Group said it has received a preliminary non-binding proposal letter from Wanda Sports & Media (Hong Kong) Holding, a wholly-owned subsidiary of Dalian Wanda Group, to acquire the shares it doesn’t own.
The buyer owns all Class B ordinary shares of the company, representing 71.7 percent of all the issued and outstanding shares and 91.01 percent of the aggregate voting power.
According to the letter, Dalian Wanda intends to fund the acquisition with equity investments or loans. The board plans to evaluate the proposed transaction.
