Fresh on the heels of spending $2.6 billion to buy AMC Entertainment,
the nation's second-largest theater chain, Chinese conglomerate Dalian
Wanda Group is poised to make more acquisitions in the U.S.
entertainment industry.
Wang Jianlin, chairman of Dalian Wanda
Group, said Tuesday that Wanda planned to invest $10 billion in U.S.
companies in the next decade, which could include buying department
stores, hotel management companies and at least one more cinema chain.
In all, Wanda plans to invest as much as $30 billion worldwide in the
next decade, he said.
Wanda, which owns shopping centers, luxury
hotels and department stores and cinemas in China, is also exploring
partnerships with U.S. production companies to finance China-U.S.
co-productions, Wang said.
"We
have the will and capability to go global," Wang said at an event in
Century City to mark the closing of its acquisition of AMC. "The
acquisition of AMC is the first step."
AMC was previously owned by
Apollo Investment Fund, Carlyle Group and other investors who bought
the company in 2004. The sale to Wanda creates the world's largest
cinema operator and marks the largest acquisition of a U.S. company by a
private Chinese buyer. The companies announced Tuesday that the
transaction had formally closed after approval by regulators in both
countries.
read more: http://www.latimes.com/business/la-fi-ct-amc-china-20120905,0,3174335.story?. Also, see Danbury Mint Corvette.