Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Event-Driven

Dalian Wanda Commercial Properties / Event-Driven

Dalian Wanda Commercial Properties (1567411D HK)

<p>The shareholder structure of the <a href="https://www.smartkarma.com/entities/84" target="_blank" data-smartkarma-citation="entities:84">Dalian Wanda Commercial Properties</a> H-shares is of interest to those looking at whether the take-private transaction as discussed by <a href="https://www.smartkarma.com/profiles/11" target="_blank" data-smartkarma-citation="accounts:11">Crispin Francis</a> in his previous insights is likely to go through. </p><p>Of the 652.5 million H-shares outstanding, no more than 10% of the shares must vote against in order to see the transaction go ahead. </p><p>That's actually not a lot. </p><p>The potential for a deal was announced at HK$38 and the minimum price noted was HK$48/share. That was the…</p>

The shareholder structure of the Dalian Wanda Commercial Properties H-shares is of interest to those looking at whether the take-private transaction as discussed by Crispin Francis in his previous insights is likely to go through. Of the 652.5 million H-shares outstanding, no more than 10% of the shares must vote against in order to see the transaction go ahead. That's actually not a lot. The potential for a deal was announced at HK$38 and the minimum price noted was HK$48/share. That was the…

Special Situations, Content Strategist, Smartkarma

Crispin Francis

Special Situations, Content Strategist

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<h2>Indicative Timetable</h2><table class="table table-striped"><tbody>
<tr>
<td><strong>Dates</strong></td>
<td><strong>Events</strong></td>
</tr>
<tr>
<td>30-Mar-16</td>
<td><a href="http://www.hkexnews.hk/listedco/listconews/SEHK/2016/0330/LTN201603301343.pdf" target="_blank">Notice of Preliminary phase of Consideration</a></td>
</tr>
<tr>
<td>21-Apr-16</td>
<td>Dalia Wanda Group <a href="http://www.reuters.com/article/dalian-wanda-privatisation-idUSL3N17P1LX" target="_blank">offers</a> 12% annual interest to offshore investors in take-private plan</td>
</tr>
<tr>
<td>25-Apr-16</td>
<td>Dalian Wanda Commercial Properties ("3699") <a href="http://www.hkexnews.hk/listedco/listconews/SEHK/2016/0425/LTN20160425121.PDF" target="_blank">trading halt</a>
</td>
</tr>
<tr>
<td>30-May-16</td>
<td>
<a href="http://www.hkexnews.hk/listedco/listconews/SEHK/2016/0530/LTN20160530158.pdf" target="_blank">Voluntary Conditional Cash Offer</a> for SEHK:3699 at HKD 52.80/Share</td>
</tr>
<tr>
<td>20-Jun-16*</td>
<td>Est. Composite Offer Document Released</td>
</tr>
<tr>
<td>15-Aug-16</td>
<td>Est. H Share Class Meeting &amp; EGM</td>
</tr>
<tr>
<td>12-Sep-16</td>
<td>Est. Unconditional Offer Announcement</td>
</tr>
<tr>
<td>21-Sep-16</td>
<td>Est. Payment Date </td>
</tr>
</tbody></table><div class="content-remarks"><p>*<em>We have seen</em>…</p></div>

Indicative Timetable

Dates
Events


30-Mar-16
Notice of Preliminary phase of Consideration


21-Apr-16
Dalia Wanda Group offers 12% annual interest to offshore investors in take-private plan


25-Apr-16
Dalian Wanda Commercial Properties ("3699") trading halt



30-May-16

Voluntary Conditional Cash Offer for SEHK:3699 at HKD 52.80/Share


20-Jun-16*
Est. Composite Offer Document Released


15-Aug-16
Est. H Share Class Meeting &amp; EGM


12-Sep-16
Est. Unconditional Offer Announcement


21-Sep-16
Est. Payment Date 

*We have seen…

Dalian Wanda - Detailed Analysis Of Binding Offer

<h2>A Look Back<br><br>
</h2><p>The de-listing of Dalian Wanda Commercial Properties ("3699 HK") was first <a href="http://www.hkexnews.hk/listedco/listconews/SEHK/2016/0330/LTN201603301343.pdf" target="_blank">mooted</a> by Dalian Wanda Group on 31 March 2016. On <a href="http://www.hkexnews.hk/listedco/listconews/SEHK/2016/0425/LTN20160425121.PDF" target="_blank">25 April 2016</a>, 3699 went into a <strong>trading halt</strong> pending the publication of an announcement pursuant to The Hong Kong Code on M&amp;A.</p><p>It has been close to a month since 3699 went into a trading halt and close to two months since the announcement of a possible de-listing. The offer from Dalian Wanda Group could be announced any time now, and with that in mind we felt it…</p>

A Look Back  
The de-listing of Dalian Wanda Commercial Properties ("3699 HK") was first mooted by Dalian Wanda Group on 31 March 2016. On 25 April 2016, 3699 went into a trading halt pending the publication of an announcement pursuant to The Hong Kong Code on M&amp;A.It has been close to a month since 3699 went into a trading halt and close to two months since the announcement of a possible de-listing. The offer from Dalian Wanda Group could be announced any time now, and with that in mind we felt it…

Dalian Wanda - Preparing for the Inevitable?

M&A Reporting, CTFN

Jonathan Spitzer

M&A Reporting

CTFN

Bringing the marketplace leading coverage of mergers, events, and major corporate actions, CTFN has a team of seasoned reporters from Los Angeles to London, publishing news that advances stories that matter to event-driven investors and deal professionals.

<p>Viacom would likely face few antitrust concerns should a rival studio like 21st Century Fox or a firm like Dalian Wanda Group or Alibaba acquire a minority stake in Viacom’s Paramount Pictures, according to a former deputy attorney general in the U.S. Justice Department’s antitrust division.</p>

Viacom would likely face few antitrust concerns should a rival studio like 21st Century Fox or a firm like Dalian Wanda Group or Alibaba acquire a minority stake in Viacom’s Paramount Pictures, according to a former deputy attorney general in the U.S. Justice Department’s antitrust division.

Does 1948 Consent Decree Limit Viacom's Search for Paramount Stakeholder?

<ul><li>Dalian Wanda Group, the Controlling Shareholder of Dalian Wanda Commercial Properties ("3699 HK"), has informed the company that it is in the <strong>preliminary phase </strong>of considering a Voluntary General Offer for the H Shares</li><li>If the Voluntary General Offer proceeds, it could result in the <strong>privatization</strong> and delisting of the Company from the Stock Exchange</li><li>Consideration is also being given as to whether and how to proceed, subject to relevant laws and regulations, with an offer for holders of domestic shares (A Shares) of the Company</li><li>Dalian Wanda Group has indicated that the offer price will be <strong>not less than HKD 48 </strong>(this is also the IPO price of 3699 HK in December 2014) </li></ul><p>3699 HK has 14.4% of its share capital in H Shares and 85.6% in A Shares. The Controlling Shareholder, owns 43.71% of 3699 entirely in A Shares. </p><p>We've recently seen deals involving delistings of H and A Shares; Wumart, Zhengzhou China Resource Gas, Jingwei Textile and Hunan Nonferrous Metals come to mind.</p><p><em>In this insight, we take a look at the possible deal timeline, the possible offer range and examine the likelihood of deal completion. </em></p>

Dalian Wanda Group, the Controlling Shareholder of Dalian Wanda Commercial Properties ("3699 HK"), has informed the company that it is in the preliminary phase of considering a Voluntary General Offer for the H SharesIf the Voluntary General Offer proceeds, it could result in the privatization and delisting of the Company from the Stock ExchangeConsideration is also being given as to whether and how to proceed, subject to relevant laws and regulations, with an offer for holders of domestic shares (A Shares) of the CompanyDalian Wanda Group has indicated that the offer price will be not less than HKD 48 (this is also the IPO price of 3699 HK in December 2014) 3699 HK has 14.4% of its share capital in H Shares and 85.6% in A Shares. The Controlling Shareholder, owns 43.71% of 3699 entirely in A Shares. We've recently seen deals involving delistings of H and A Shares; Wumart, Zhengzhou China Resource Gas, Jingwei Textile and Hunan Nonferrous Metals come to mind.In this insight, we take a look at the possible deal timeline, the possible offer range and examine the likelihood of deal completion. 

Dalian Wanda - I Wanda How He Thinks He Can Privatize at HK$48

China

Dalian Wanda Commercial Management Group Co., Ltd. operates as a commercial property developer, owner, and operator. The Company develops and manages mixed-use property projects including retail, office, hotel, residential, restaurant, entertainment, and other projects. Dalian Wanda Commercial Management Group conducts businesses in China.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Dalian Wanda Commercial Properties (1567411D HK)

Wanda Where The Shares Are?

The shareholder structure of the Dalian Wanda Commercial Properties H-shares is of interest to those looking at whether the take-private...

Travis Lundy

Dalian Wanda - Detailed Analysis Of Binding Offer

Indicative Timetable*We have seen similar precedent transactions take an average of 31 days to release the composite document, in this case, we...

Crispin Francis

Dalian Wanda - Preparing for the Inevitable?

A Look Back The de-listing of Dalian Wanda Commercial Properties ("3699 HK") was first mooted by Dalian Wanda Group on 31 March 2016. On 25 April...

Crispin Francis

Dalian Wanda - I Wanda How He Thinks He Can Privatize at HK$48

Dalian Wanda Group, the Controlling Shareholder of Dalian Wanda Commercial Properties ("3699 HK"), has informed the company that it is in the...

Crispin Francis

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Wanda Where The Shares Are?

The shareholder structure of the Dalian Wanda Commercial Properties H-shares is of interest to those looking at whether the take-private...

Travis Lundy

Dalian Wanda - Detailed Analysis Of Binding Offer

Indicative Timetable*We have seen similar precedent transactions take an average of 31 days to release the composite document, in this case, we...

Crispin Francis

Dalian Wanda - Preparing for the Inevitable?

A Look Back The de-listing of Dalian Wanda Commercial Properties ("3699 HK") was first mooted by Dalian Wanda Group on 31 March 2016. On 25 April...

Crispin Francis

Does 1948 Consent Decree Limit Viacom's Search for Paramount Stakeholder?

Viacom would likely face few antitrust concerns should a rival studio like 21st Century Fox or a firm like Dalian Wanda Group or Alibaba acquire a...

CTFN

Dalian Wanda - I Wanda How He Thinks He Can Privatize at HK$48

Dalian Wanda Group, the Controlling Shareholder of Dalian Wanda Commercial Properties ("3699 HK"), has informed the company that it is in the...

Crispin Francis