NEWS

Chinese billionaire closes deal to buy Sunseeker

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Chinese investment group Dalian Wanda Group became the major shareholder of British shipyard Sunseeker. This was announced by the company the other day.

Recall that Dalian Wanda Group led by Wang Jianlin bought 91.81% of the shares for £320 mln. The remaining shares are owned by the top management of the shipyard. The yard's production will remain in Poole and the processes will be run by the former management team. The shipyard's founder, Robert Braithwaite, is also keeping his hand on the pulse of the company's management as he takes over the presidency.

Sunseeker confirmed information about the purchase on June 19. The companies took just over two months to sort out the formalities. In that time, Wang Qianlin has managed to become the richest Chinese, pushing soft drinks maker Wahaha.

Judging by the fact that analysts are predicting explosive growth for the Chinese yacht market, the British have scored a warm spot.

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