Chinese Conglomerate Announces Completion of Sunseeker Acquisition

Once as British as Fish & Chips the yacht builder Sunseeker is now officially a Chinese Take Away

China’s largest premier commercial property and entertainment conglomerate, Dalian Wanda Group, has formally confirmed the completion of its acquisition of the British yacht building company Sunseeker International Ltd

The deal had originally been announced on June 19, 2013 but has only now been completed

The deal has a total investment value of GBP320 million, with Wanda holding a 91.81% majority stake in the luxury motor yacht manufacturer and the remaining 8.19% held by Sunseeker management.

Commenting on the deal completion, Wanda Chairman Wang Jianlin said, “We are excited to embark on the next chapter in the development of Sunseeker’s business and look forward to building upon the company’s reputation of excellence.

The Chinese conglomerate is well positioned to help Sunseeker capitalize on the trend seen in China and other growth markets recently.

The group plans to contribute significantly to global expansion in the luxury yacht sector over the next few years.”