China Company Takes Over Sunseeker International

MarineLink.com
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 July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Eaton to Exhibit at SMM

Power management company Eaton will demonstrate its expanded ability to deliver electrical, explosion-proof and hydraulic equipment for the marine and offshore

CMA CGM to Launch New Joint Liner Service

CMA CGM S.A. announced it act in cooperation with China Shipping Container Lines (CSCL), Orient Overseas Container Lines (OOCL) and Pacific International Lines (PIL),

Swedish Club Results Show Improvement

The Swedish Club today announced its half-year results in which it reported that the club continued to demonstrate a solid performance in the first six months of

Finance

Mozambique: $30b Invested for 2018 LNG Export

More than $30 billion will be invested initially in Mozambique's natural gas sector to build capacity to produce 20 million tonnes per year of liquefied natural gas (LNG),

Cuba Struggles to Attract Investors Despite Reforms

Cuba has yet to attract new foreign investors despite launching two major initiatives in the past year, a sign of the lingering caution over doing business with

Swedish Club Results Show Improvement

The Swedish Club today announced its half-year results in which it reported that the club continued to demonstrate a solid performance in the first six months of

Mergers & Acquisitions

CEVA Expands Presence in Los Angeles Market

CEVA Logistics, one of the world’s leading supply chain management companies, today announced the expansion of its Los Angeles (LAX)/Torrance freight management operation.

Delivery & Naming of Atlantic Offshore´s ERRV – Ocean Marlin

On August, 13th the delivery and naming ceremony of our last construction, the ERRV C722- Ocean Marlin - for Atlantic Offshore was performed. The event was held in the Norwegian town of Stavanger,

Scorpio Tankers on Major Fleet Expansion

Scorpio Tankers Inc. (NYSE: STNG) (the "Company") announced today that it has reached an agreement with an unrelated third party to purchase an MR product tanker

 
 
Maritime Contracts Maritime Security Naval Architecture Pipelines Port Authority Salvage Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1999 sec (5 req/sec)