Two investment funds have taken a 5 per cent stake in Dalian Wanda Group’s ecommerce unit, valuing the four-month-old joint venture with two of China’s internet giants at Rmb20bn ($3bn), according to the Chinese property conglomerate.
Wanda said the combined Rmb1bn paid by Centec Networks and Xude Rendao for the stake was “a record investment for a newly established ecommerce company”, according to a statement on its website.
Neither investment fund could be immediately contacted.
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