Freshfields Bruckhaus Deringer is advising Chinese property and entertainment conglomerate Dalian Wanda Group Co. Ltd. on two U.K. deals worth a collective $1.6 billion.
Dalian Wanda is paying about $1.1 billion for a development site in London's South Bank area from Irish property company Green Property Ventures Ltd. The Chinese company plans to build a hotel-and-apartment complex on the site.
In a separate deal, Dalian Wanda has also agreed to pay Dublin-based private equity group FL Partners $467 million for a 92 percent stake in British yacht maker Sunseeker, with the company’s management retaining the rest of the equity. The deal is expected to close in August.
Freshfields Beijing partner Alan Wang, Hong Kong partner Simon Weller, and London partners Paddy Ko and Adrian Mcguire are advising Dalian Wanda on its Sunseeker acquisition. Wang is also advising on the land purchase, along with London partner Emma Kendall.
Based in Dalian in northeast China, Dalian Wanda is no stranger to international acquisitions. Last year, the company acquired U.S. cinema operator AMC Entertainment Holdings Inc. for $2.6 billion.
*Updated, 6/20/13: The fifth paragraph of this story has been updated to note the roles of White & Case and Addleshaw Goddard.