Dalian Wanda to buy PE-owned UK yacht maker – report

According to the Financial Times, FL began talks with Wanda late last year. The PE firm took over the yacht maker in 2010 through a debt restructuring after the company slumped to a loss the year before. The transaction is expected to be finalized before the end of this month.

"We bought the best yacht company in the UK," said Wang Jianlin, the chairman and founder of Wanda, although he didn't name Sunseeker. Two years ago Wang bought the Sunseeker Predator 108 Special Edition, best known from James Bond movie Quantum of Solace.

Last year, Wanda completed the takeover of a US movie theater operator AMC Entertainment for $2.6 billion, facilitating the exit of five private equity owners after an eight-year holding period.

Wanda isn't the only Chinese investor to pick up a yacht maker. In 2011, state-owned Shandong Heavy Industry acquired Italy's Ferretti for EUR178 million ($228 million) from creditors. London-based private equity group Candover Investments had previously purchased majority control of the company.

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• Topics
• Greater China
• Consumer
• Exits
• Buyouts
• China
• Europe
• USA
• Exit
• Candover Investments
• buyout