Friday, November 9, 2012

Dalian Wanda's purchase of AMC is just the beginning

Chinese conglomerate Dalian Wanda Group closed last September 4th. its $2.6 billion acquisition of AMC Entertainment, making it the largest owner of movie theaters in the world. It has been said that this is just the beginning, since Dalian Wanda has a $30 billion to perform acquisitions outside of China, a third of which will take place in the US.

The highly diversified group, chaired by Wang Jianlin, will most probably invest in: retail, hotels, more movie theaters and possibly some film productions.

Dalian Wanda currently operates 28 five-star hotels in China, which figure is expected to increase to 70 by 2015. It has relationships with all the major hotel brands including Hyatt , Starwood, Intercontinental and Hilton.

The conglomerate only entered the department store business in 2007 but, since then, it has opened 40 stores in Beijing, Shanghai and other Chinese cities and by 2015, it plans to have 110 stores open.

The next move is the movie-related business, where Dalian Wanda Group will most probably become very well known internationally in the years ahead.

No comments:

Post a Comment