TOKYO -- Huis Ten Bosch Co. is no longer planning to sell shares to China's Fosun Group, the theme park's owner H.I.S. announced on Tuesday.
Huis Ten Bosch in December said it was in talks to sell nearly 25% of its shares to the Chinese leisure conglomerate. The theme park expected to benefit from more Chinese visitors, while Fosun reportedly had plans to open similar facilities in China.
But negotiations "did not result in an agreement," H.I.S. said.
H.I.S and Huis Ten Bosch declined to comment further.
Operating theme parks in China is seen as challenging. Chinese property developer Wanda Group has pulled out of the sector by selling off the assets and operating rights to its theme parks.
H.I.S. Chairman Hideo Sawada told Nikkei in December that the Chinese conglomerate wanted to attract 200,000 Chinese tourists annually to Japan's Huis Ten Bosch theme park. The chairman was also willing to take on directors from the Chinese group to advise the company.