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在线翻译:
szdaily -> Markets -> 
Wanda taps investment banks for sports unit IPO
    2018-01-23  08:53    Shenzhen Daily

CONGLOMERATE Dalian Wanda Group has tapped three banks including Citigroup Inc. and UBS Group AG to work on a proposed initial public offering (IPO) for its sports businesses, sources with knowledge of the matter said.

An IPO would follow a string of asset sales as Wanda works to meet debt repayment deadlines. It was one of several domestic conglomerates to be targeted by a government crackdown last year for aggressive overseas acquisitions, with sources saying banks were told to stop providing funding for some deals.

The sprawling property-to-entertainment group has yet to decide which exchange to list on and is considering both Hong Kong and New York, two of the sources said. It hopes to raise up to US$1 billion via the share sale, one of sources said.

The float would likely include Infront Sports & Media AG, a Swiss sports marketing company, and World Triathlon Corp., the organizer and promoter of the Ironman race, Reuters reported this month. The two were acquired in 2015 for US$1.2 billion and US$650 million, respectively.

Wanda also tapped Hong Kong-based CLSA, the international investment banking arm of China’s CITIC Securities, for a potential IPO, one of the sources said.

All plans are still at an early stage and there is no guarantee that Wanda will pursue an IPO, said the sources. (SD-Agencies)

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