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Property

Dalian Wanda wins $5.4bn injection from Tencent-led group

China 'all-star' consortium to acquire 14% stake held by investors of Wanda's delisted unit

Dalian Wanda to get a helping hand by Chinese investor consortium led by Tencent Holdings to the tune of $5.4bn.

HONG KONG -- An "all-star" team of Chinese investors led by internet conglomerate Tencent Holdings agreed to pour 34 billion yuan ($5.4 billion) into Dalian Wanda Group's flagship unit on Monday, marking the world's largest deal between web and brick-and-mortar businesses.

The consortium also includes internet retailer Suning Commerce Group, U.S.- listed JD.com and property developer Sunac China Holdings, according to a statement released on Dalian Wanda's website. They will collectively buy out the 14% equity interest purchased by investors when Wanda Commercial Properties was delisted from the Hong Kong stock exchange in 2016.

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