Dalian Wanda to acquire World Triathlon Corp
August 31, 2015 Category Real estate, Weekly
Chinese real estate and entertainment firm Dalian Wanda will buy the organizer of Ironman extreme endurance contests for USD650 million. The deal for the World Triathlon Corporation comes after Wanda bought a stake in Spanish football club Atletico Madrid and spent more than €1 billion on Swiss sports marketing group Infront. Wanda Chairman Wang Jianlin, one of China’s richest men, has built his firm into a property giant, but has been diversifying into sports and entertainment in recent years. Wanda hopes to increase the popularity of triathlons in China, the company said in a statement announcing the deal. “As China enters the ranks of middle income countries, people are paying increasing attention to physical fitness and spiritual fulfillment, and triathlon’s unique charm and challenge is set to attract a large number of people,” the company said. World Triathlon Corp is based in Tampa, Florida and Wanda said it operates at least 250 events a year, describing it as the world’s largest operator of Ironman events. Triathlons are also organized by the rival International Triathlon Union, the South China Morning Post reports.
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