ICBC provides a $200 million USD loan to Dalian Wanda Group for the acquisition of a 91.18% ownership stake in Sunseeker International (Holdings) Limited

Project narrative

On June 25, 2013, Dalian Wanda Group Co. announced that it would pay £320 million GBP ($451 million USD) to acquire a 91.81% stake in British luxury yacht manufacturer Sunseeker International (Holdings) Limited. To facilitate this acquisition, the Industrial and Commercial Bank of China (ICBC) issued a $200 million USD loan to Dalian Wanda Group. The deal was expected to facilitate Sunseeker's access to the Chinese market. At the time of the deal, Sunseeker reported that the company would remain British and suffer no job losses as a result of the acquisition. The acquisition was completed in August 2013. Puji Capital, an investment group with emphasis on Chinese cross-border and investments and mergers & acquisitions (M&A), assembled the consortium for the acquisition and served as Dalian Wanda's financial advisor. After the acquisition was completed and before June 30, 2014, Dalian Wanda Commercial Properties Co., Ltd., a subsidiary of the Dalian Wanda Group, acquired a 100% equity interest in Wanda Yacht Investment (Jersey) Company Limited (Wanda Jersey) for RMB 3.197 billion. Wanda Jersey is an investment holding entity that possesses a 91.81% equity interest in Sunseeker International.