Wanda Hotel Development, a unit of Chinese conglomerate Dalian Wanda Group led by Wang Jianlin, said it would buy assets worth over 7 billion yuan ($1.05 billion) from Wang-controlled companies as part of a restructuring.
Shares of Wanda Hotel jumped as much as 36 percent on the deal, although those gains were moderated in later trading.
The Hong Kong-listed company said it would buy the entire equity interest in theme park operator Wanda Culture Travel Innovation Group from Wang’s Beijing Wanda Culture Industry Group for 6.3 billion yuan.
