Investment company PAG injected $2.8 billion into the manager of malls developed by China's Dalian Wanda Group, Bloomberg reported Monday.
This investment occurred while competitors were reducing their exposure and analysts were flagging weak consumer confidence.
This year, PAG further arranged a $6.3 billion private financing package for a fund holding the underlying assets, according to the report.
The transactions transformed PAG's initial minority stake into an effective control position, Bloomberg wrote.
Li Huan, co-founder of asset manager Forest Capital Hong Kong, said PAG succeeded in maneuvering a structure that lowered the valuation of its existing investment, 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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