Market Chatter: No Repurchase Agreement Found in Wanda-Sunac Investment Deal, Insider Says

MT Newswires Live12-24 13:49

There is no contractual obligation for Wanda Group to buy back its unit's shares from fellow cash-strapped developer Sunac Group (HKG:1918) as no bet-on agreement was included in the contract, Yicai Global reported Monday, citing a source familiar with the matter.

Sunac is seeking 9.5 billion yuan in compensation from share repurchase fees from Wanda Group after an alleged breach of a 2018 investment deal.

China International Economic and Trade Arbitration Commission is hearing the case on the botched deal, with a decision expected soon, according to the report.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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