Wang Jianlin is losing Wanda...
Wang Jianlin is losing Wanda, which he worked so hard to found.
On December 12, Wanda Film issued an announcement announcing that Wang Jianlin would transfer his 51% stake in Wanda Investment to Shanghai Ruyi.
In July this year, Shanghai Ruyi has acquired 49% of the equity of Wanda Investment, so after this transaction:
Shanghai Ruyi wholly controlled Wanda Investment and replaced Wang Jianlin as the largest shareholder of Wanda Film.
According to the announcement, the actual controller of Wanda Film will be changed from Wang Jianlin to Ke Liming, the actual controller of Shanghai Ruyi, and Wang Jianlin has lost the Wanda Film he founded.
However, the loss of Wanda Movies is only the beginning.
Also on December 12, PAG and Dalian Wanda Commercial Management Group announced the signing of a new investment agreement.
Under the new agreement, PAG and other investors will hold a 60 percent stake in Zhuhai Wanda, a platform to be listed by Wanda Commercial Management, while Wang Jianlin's Dalian Wanda Commercial Management's stake will be reduced to 40 percent.
In its quest to go public, Wanda Commercial Management has invested most of its assets in Zhuhai Wanda, which manages 494 large commercial centers across the country.
According to the previously disclosed information, Dalian Wanda Commercial Management holds about 80% of the shares of Zhuhai Wanda, and investors only account for about 20%.
In other words, Wang Jianlin sold about 40% of Zhuhai Wanda's equity in exchange for the support of investors, and investors also became the largest beneficiary of Wanda Commercial Management with 60% of their shares.
Yesterday, a lot of news said that investors helped Wang Jianlin, and Wang Jianlin could breathe a sigh of relief, but in fact, it was all to appease the market.
The real situation is that Wang Jianlin has lost most of the rights and interests of Wanda Commercial Management, and others will share 60% of the money earned by Wanda Commercial Management in the future.
Although Wang Jianlin is still the single largest shareholder of Zhuhai Wanda, it cannot be ruled out that investors will unite to control the actual control of the company, and Wang Jianlin has also lost absolute control over Wanda Commercial Management.
For Wang Jianlin, this is the second time he has broken his arm to survive.
In 2017, Wanda suffered a "double kill of stocks and debts", Wang Jianlin cut off his left arm, sold 13 cultural tourism cities to Sunac, and cut off his right arm and sold 77 hotels to R&F, allowing Wanda to survive.
And this time, in the face of a huge redemption of about 38 billion yuan to be repaid after the failure of the listing, Wang Jianlin had no choice but to sell high-quality assets again, and the Wanda film on the left leg was handed over, and Wanda Commercial Management on the right leg was also given up most of it.
If you imagine Wanda as a person, then you can see an extremely tragic picture:
Wanda has lost both arms of the cultural tourism city and the hotel, the left leg is gone, the right leg is only half of the business, and the torso Wanda Real Estate is also terminally ill.
In addition, PAG and other investors are not philanthropists, according to the disclosed information, Wanda Commercial Management needs to execute the redemption first, and then the investors will reinvest in Wanda, but did not disclose how much this investment.
Therefore, the investor is likely to get 60% of the equity of Zhuhai Wanda at the price of breaking the bone and make a lot of money.
You must know that the leader of this investment, Shan Weijian, chairman and CEO of the Pacific Alliance, has played the role of "barbarian at the door" many times.
According to his past style of financial operation, obtaining absolute control is the common feature of Shan Weijian's investment behavior.
Judging from the fact that Zhuhai Wanda's 4 listings have not been successful, it is difficult for Wanda Commercial Management to achieve listing under Wang Jianlin, and it must change the boss.
Therefore, Brother Tao guessed that investors should first take most of the shares of Zhuhai Wanda, to see if Wanda can be listed if Wang Jianlin does not have absolute control, if not, it may only be possible to let Wang Jianlin out.
After all, the investors' money is not enough, and the investors can't exit, and the only solution is to go public by various means.
In addition, even though the 38 billion redemption was temporarily achieved with the cooperation of investors this time, Wanda's crisis has not been resolved.
Wanda's high-quality assets have been sold, but it is not yet known whether it can solve the legacy of Wanda Real Estate, and after this series of events, Wanda's refinancing ability is also very weak, and the future is worrying.
Not long ago, the news of Wang Sicong's work was on the hot search.
On November 27, Wang Sicong, as the chairman of Beijing Huanju Commercial Management Co., Ltd., signed a cultural tourism project with a total investment of about 3.7 billion yuan with the Tai'an Municipal Government.
At that time, many news said that Wang Sicong was going to take over and so on, but in fact, in Brother Tao's view, this is a succession, but a new vest was made from scratch.
Wang Sicong had never participated in Wanda's business management before, and he was unable to do such a large investment project on his own, and he was even received by the government.
The only reasonable explanation is that this is the project won by Wang Jianlin, but Wanda's current ship may sink at any time, so let Xiao Wang come forward and make a new company that has nothing to do with Wanda on the surface, undertake Wang Jianlin's connections and resources, and become Wanda's plan B.
From selling Wanda's various assets to arranging Xiao Wang to do the back, it can be seen that Wang Jianlin has prepared for the worst.
In 2017, Wanda lost its cultural tourism city and hotel in its first crisis, and in 2023, it lost most of its shares in film and business management in its second crisis.
Wang Jianlin stepped into the same river twice, losing more than the other time, and there were not many cards left.
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