China Company Takes Over Sunseeker International
Wednesday, June 26, 2013
Sunseeker 40m Motor Yacht

The Dalian Wanda Group, one of the largest Chinese property and cinema groups, will acquire almost 92 percent stake in the leading global luxury yacht company, Sunseeker International Limited, for about GBPDS 320-million.

Although the private yachting market is in its early stages in China, this industry is growing rapidly. Wanda's Chairman Wang Jianling states that "China's consumption is growing, especially in the market for high-end luxury products. We have noticed the growth in consumption of luxury yachts, also private planes -- the growth is exponential." Chairman Wang also added that "With the committed support of Wanda, Sunseeker is well-placed to take full advantage of opportunities in China, one of the world's fastest growing luxury yacht markets. We are confident that this will bring Sunseeker's business to the next level."

Wanda's acquisition of Sunseeker is strategic; Stewart Mcintyre, Managing Director of Sunseeker International Ltd, commented, "We are thrilled to be joining the Wanda family. Support from Wanda will be instrumental in enabling Sunseeker to unlock the enormous potential of China's rapidly expanding luxury yacht market."

Asia based Puji Capital, an investment group that focuses on China cross border investments and M&A in the lifestyle, media, and entertainment sectors, assembled the consortium for this transaction and acted as the financial advisor to Wanda in this acquisition.

Maritime Reporter October 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Wilh. Wilhelmsen, Callenberg Win SHIPPINGInsight Award

Wilh. Wilhelmsen ASA and Callenberg Technology Group were presented the 2015 SHIPPINGInsight Award was today at the SHIPPINGInsight 2015 Fleet Optimization Conference & Exhibition in Stamford, Conn.

Market Growth to Bring More Carnival Ships to China

Eying a rapidly growing cruise market, Carnival Corporation announces plans to sail more ships from China The Chinese cruise market, expected to become the world’s

Insights: Matthew Paxton, SCA President

Matthew Paxton is President of the Shipbuilders Council of America (SCA), and a partner at the law firm of Adams and Reese. SCA is the national trade association


Market Growth to Bring More Carnival Ships to China

Eying a rapidly growing cruise market, Carnival Corporation announces plans to sail more ships from China The Chinese cruise market, expected to become the world’s

Saudi Shipper Bahri Q3 Net Profit Rises

National Shipping Company of Saudi Arabia (Bahri), the exclusive oil-shipper for Saudi Aramco, reported a 501 percent increase in third-quarter net profit on Tuesday.

Noreco CEO Quits

Norwegian Energy Company ASA (Noreco) announces that Tommy Sundt is stepping down as CEO of Noreco ASA. Since joining Noreco in September 2014, Tommy Sundt


IMTRA Debuts Omega LED lights

IMTRA today released its Omega LED lights. Designed specifically for recessed lighting applications in large yachts, the DC-powered Omega LED lights feature a high-quality,

Volvo Ocean Race Partners with Yacht Racing Forum

The Volvo Ocean Race has agreed a three-year partnership with the Yacht Racing Forum.   "We are delighted to welcome the Volvo Ocean Race as a long-term partner,

Mergers & Acquisitions

Algoryx Simulation, Kongsberg Maritime Ink R&D Deal

Kongsberg Maritime and Algoryx Simulation have entered a five year agreement, which supports Kongsberg Maritime’s continuing development of fidelity and realism

New Orleans Port, CORBA Join forces‏

An agreement signed today by Port of New Orleans officials and industry leaders from the Central Ohio River corridor could help spur commerce between the two regions.

Pinnacle Products International Acquires Schaefer Ventilation Equipment

Ventilation and thermal comfort products manufacturer Schaefer Ventilation Equipment has been acquired by Pinnacle Products International, Inc., a developer, manufacturer,

Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Pod Propulsion Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2165 sec (5 req/sec)