DALIAN, China/DUBAI -- Chinese developer Dalian Wanda Group has ceded control of its core mall unit to outside investors as part of a multibillion-dollar deal, which is expected to help the cash-strapped group shore up its strained finances but weaken the influence of founding chairman Wang Jianlin.
China debt crunch
China developer Wanda loses crown jewel mall unit in survival fight
Wang Jianlin's influence diminishes with $8bn-plus deal involving outside investors
Wanda Plaza is the largest mall chain in China by far, with a total floor space five times as large as its next-biggest rival. (Photo by Kohei Fujimura)
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