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Chinese billionaire Wang Jianlin sells Atletico Madrid stake as Wanda continues to trim debt

  • Wed, 14 Feb 2018 22:43
Dalian Wanda Group has agreed to sell a 17 per cent stake in Atletico de Madrid to Quantum Pacific Group controlled by Israeli billionaire Idan Ofer, the latest move by the Chinese conglomerate to cut its debt, the Spanish soccer club said on Wednesday. Quantum Pacific’s stake in the football club will rise to 32 per cent, but the club stopped short of disclosing the deal’s value. In 2015, Wanda bought a 20 per cent stake in the football club for US$ 52 million, the first time a... South China Morning Post - Hong Kong & China feed

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