China's Dalian Wanda drops plan to acquire London's Nine Elms, R&F new buyer
Dalian Wanda Group said on Tuesday it had scrapped plans to buy Nine Elms Square in London, the latest setback for the Chinese conglomerate as Beijing tightens controls on overseas investment. Guangzhou R&F Properties (2777.HK) will instead buy the property, an R&F spokesman said. It will be the second time in a matter of weeks that the Chinese developer has stepped in to take over assets from Wanda, owned by one of China's richest men, Wang Jianlin.
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