Wanda Owner Wang Jianlin is the second richest man in China, behind Alibaba founder Jack Ma. Dalian Wanda's businesses include cinema chains too.
Beijing began past year to roll out restrictions to curb overseas capital flight, which analysts said raises funding costs to companies like Wanda as lending to them is now viewed as more risky due to the constraints they face.
Last month, Wanda acknowledged that China's banking regulator had ordered an inspection of potentially risky loans to it and other major Chinese companies that have invested heavily overseas.
"This (deal) signifies a retreat from Wanda's previous strategy in cultural tourism, and marks a pivot to an asset-light strategy", said Qin Gang, senior researcher at State Information Center, a government-linked think tank.
Chelsea Facing Striker Crisis as Diego Costa Set for Exit
Indeed, the same story reveals that Costa won't be allowed to skip Chelsea's pre-season campaign if the Blues haven't agreed a transfer deal with Atletico.
"Financial institutions don't really want to keep lending money to firms that are targeted by regulatory scrutiny".
The news also came a year after the group's chairman boasted he would drive Disneyland out of China. This fake Lamborghini is a 'Shanzhai' model of the kind that are growing in demand in China, where you can get a smart vehicle knock-off of a Land Rover, a Mercedes-Benz, or a BMW.
Wanda's need to cut its debt pile was seen as the main reason for the sale, with owner Wang Jianlin having reportedly said all the proceeds from the sale would be used to pay down the company's liabilities.
Wanda had earmarked a more than 300 billion yuan investment for its cultural and tourism projects.
Galaxy Note FE now available for purchase in South Korea
Both the phones also come equipped with the Galaxy On Max's supposed USP features, aka, Samsung Pay Mini and Social camera. It was recently announced that its device, Galaxy J5 Prime would get updated to the latest Android Nougat 7.0 very soon.
Embracing the "new retail" model to further connect online and offline shopping, Alibaba launched an experimental cashier-less coffee shop called "Tao Cafe", similar to the concept of Amazon Go which Amazon announced past year.
Wanda Hotel Development, the group's listed unit in Hong Kong, surged 94.83 percent to HK$1.13 by the break.
Sunac's shares in Hong Kong were suspended from trading ahead of what it said would be a "very substantial acquisition" announcement.
HTC is reportedly working on a mid-ranger with Edge Sense, code
For capturing pictures and videos , the phone will expectantly sport a 16-megapixel camera, on both the front and rear. HTC U11 is receiving a new software update which brings along with it a few changes to the smartphone.