[aaron38]

Originally Posted by gebs

Via Crain's:

Vista Tower developer not worried about shakeup at Chinese partner

"The deal affecting the Chicago project essentially shifts ownership from one Wang [Jianlin] business to another. Under the agreement, Wanda Hotel Development, a public company with shares listed in Hong Kong, would sell its 60 percent equity stake in Wanda Americas Real Estate Investment, the venture that has invested in the Vista project, according to an Aug. 9 statement from Wanda Hotel. Wanda Hotel would sell its interest to Dalian Wanda Commercial, a company majority-owned by Wang and his family."

Just saw this come across the wire:

China Codifies Crackdown on ‘Irrational’ Outbound Investment
https://www.bloomberg.com/news/artic...to-reduce-risk

China formally laid down new rules on overseas investments, making explicit its de facto campaign against "irrational” acquisitions of assets in industries ranging from real estate to hotels and entertainment.

•Restricted: Property, hotels, film, entertainment, sports, obsolete equipment, investments that contravene environmental standards

Some of the country’s most aggressive dealmakers -- Anbang Insurance Group Co., Fosun International Ltd., Dalian Wanda Group Co. and HNA Group Co. -- have already been the target of government pressure to scale back their foreign activities.