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Wanda reportedly mulling 1.2 billion euro acquisition of Spanish beach resort

11/30/2015| 12:30:26 AM| ChinaTravelNews 中文

Chinese property developer giant Wanda Group is reportedly in talks to acquire a 75% stake Marina d’Or Resort in Spain’s Castellon province for €1.2bn.

Chinese property developer giant Wanda Group is in talks to acquire a 75% stake Marina d’Or Resort in Spain’s Castellon province for €1.2bn, according to Spanish website Empresas.com.

Marina d’Or Resort in Spain’s Castellon province

Wanda has not commented on its rumored interest in a third major overseas acquisition from December to next January.

If the deal goes ahead, the transaction will be Wanda’s third high-profile investment in Spain after its acquisitions of Madrid’s Edificio Espana for €265m in June 2014 and a 20% stake in Atletico de Madrid for €45m in March 2015.

Marina d’Or Resort is often referred to as the “Las Vegas of Spain”. Located in the Cabanes and Oropesa districts of Castellon province, it has an area of 18 million square meters and has 5 hotels, an amusement park, a beachfront golf course and a spa resort.

Employees of the Marina d’Or Resort have revealed that a private plane landed at Castellon Airport on November 20. It is suspected that Wanda Group chairman Jianlin Wang alighted from that plane.

Other sources have said that Wanda Group representatives have already been in Castellon province for a week to review all of Marina d’Or Resort’s documents and Mr. Wang has joined the team to personally inspect the property.(Translation by David)

TAGS: Wanda Group | Spain | resort | Chinese tourism
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