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).