Dalian Wanda Acquire Infront Sports and Media in €1 Billion Deal

Chinese conglomerate company Dalian Wanda Group have agreed a deal to acquire international sports marketing company Infront Sports and Media for €1.05 billion (£780 million).

Dalian Wanda will make the purchase with a group of investors and secure 68.2% from private equity firm Bridgepoint.

Speaking about the deal Wang Jianlin, Chairman of Wanda Group, said: “This acquisition of Infront will significantly increase the future impact of the Wanda Group in the culture and entertainment industry and will also drive the development of Chinese sports industry and its interest around the globe.

“Infront, through its long-standing partnerships with some of the most important sports rights-holders, is top-connected in the global sports industry. It is best-positioned to actively support China in its bidding efforts for major sports events, as it is already involved in the planning, delivering, marketing and servicing of a broad array of top international events.

“By acquiring Infront, Wanda will also be in a position to increase its influence in the global sports industry and help raising the level of competition in Chinese sports. We are very confident to support Infront in its aim to become the number one global sports marketing company.”

Philippe Blatter, Infront’s President & CEO, added: “Based on our existing strategy and the combined experience of Wanda and Infront, we will continue to grow our business across the board, both internationally as well as in China.

“We are looking forward to jointly tackle a variety of major expansion projects with the aim to strengthen our leading position in the global sports market. Wanda is fully committed to actively contribute to Infront’s ambitious growth plans and shares our long-term vision as well as our corporate values.

“Overall, we are convinced that the new and strengthened ownership structure will help to further enhance our service offering to benefit our valued partners and clients.”

More info HERE.

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