The Traderszone Network

Published in TZ Latest News 9 February, 2015 by The TZ Newswire Staff

Dalian Wanda to buy Swiss sports firm for $1.2 billion amid entertainment push

China’s Dalian Wanda Group Co signed a 1.05 billion euros ($1.2 billion) deal to buy Swiss sports marketing firm Infront Sports & Media AG, and said it plans to acquire more overseas companies this year to deepen its push into sports and entertainment. The acquisition will see Wanda Group, China’s largest property developer which also controls the country’s largest cinema chain, take a 68.2 percent stake in Infront, which focuses on distributing media rights for broadcasting sports events including the soccer World Cup and several Olympic winter sports.

read more