Wanda Hotel to Gain Access to Octonauts IP via Asset Swap With Sony-owned Company

MT Newswires Live
Nov 03

Wanda Hotel Development (HKG:0169) said its Wanda Chicago unit agreed to an asset swap with CPE Stage Investments, according to a Hong Kong bourse filing Sunday.

Shares of the hotel operator fell over 15% in late morning trade Monday.

Under the agreement, Wanda Chicago will acquire CPE Stage's 49% interest in Vampire Squid Productions in exchange for 16 condominium units in The Residences at St. Regis, Chicago.

The condos to be sold are valued at $47.5 million, while CPE Stage's equity interest is valued at H$356.7 million to HK$416.7 million.

Vampire Squid operates the Octonauts intellectual property, an animated children's television series based on the children's books written by Meomi.

CPE Stage is ultimately owned by Sony Group (TYO:6758).

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10