Dalian Wanda Agrees to $8.3 Billion Deal

In a significant business move, Dalian Wanda has agreed to cede control of its shopping mall unit in a deal worth 60 billion yuan, approximately $8.3 billion. The deal, announced on Saturday, will see investors led by PAG holding a combined 60% stake in the business. This decision marks a strategic shift in the company's operations, presenting new opportunities for growth and expansion in the dynamic retail landscape. With this agreement, Dalian Wanda aims to strengthen its position and explore potential areas of development amidst evolving market conditions and consumer preferences.