Dalian Wanda Group Chairman Wang Jianlin, who media reports have identified as China's -richest man, said at a speech in the University of Oxford that Dalian Wanda will announce a major transaction this week, China -Securities Journal reported on Wednesday.
Separately, Wanda Cinemas, a unit of the Dalian Wanda Group, announced that trading in its shares on the Shenzhen Stock Exchange has been suspended.
The theater chain cited a pending acquisition by its parent, without elaborating. Nothing has been disclosed about any possible link between Wang's comments and the Wanda Cinemas announcement.
Wang also said during the speech that Dalian Wanda had invested more than $15 billion in more than 10 overseas countries and regions, with $10 billion worth of investment in the US and 1.2 billion pounds ($1.67 billion) in the UK, according to domestic media reports.
He said that Dalian Wanda will continue to expand its overseas business, which will account for 30 percent of overall revenues in the future, according to China -Securities Journal.
Dalian Wanda is talking about a project worthy of billions of euros with UK companies, said Wang.
Talking of Dalian Wanda's global development strategy, Wang said that Dalian Wanda's overseas development is mostly based on acquisitions.
"The projects should be related to Dalian Wanda's present business, so that the purchased projects could help Dalian Wanda expand the scale of its industry," Wang said during the speech.
