ASIAdocument.write(“” + m[today.getMonth()+1]+ ” “+ today.getDate()+”, ” + theYear + ” “);HOMECHINAWORLDBUSINESSLIFESTYLECULTURETRAVELSPORTSOPINIONREGIONALFORUMNEWSPAPERChina Daily PDFChina Daily E-paperChina Daily Global PDFChina Daily Global E-paperBusiness /ViewEconomyPolicy WatchChina DataCompaniesMarketsIndustriesViewMotoringTechGreen ChinaWandas savvy acquisitions need nameBy MIKE BASTIN(China Daily)Updated:2014-12-29 09:41Comments Print Mail Large Medium SmallZHANG CHENGLIANG/CHINA DAILYCompany should focus more on brand building in overseas marketsPlanning permission has now been granted for one of Londons most ambitious and audacious construction projects, the One Nine Elms plan financed to the tune of 400 million pounds ($625.6 million) by the ever acquisitive Dalian Wanda Group.This development, the first to be built by Dalian Wanda in the United Kingdom, will see the construction of two towers, measuring 200 meters and 160 meters.These will include 439 private residential units, 52 affordable homes and a 187-room, five-star hotel.But it is not just this current European expansion, at a time of continuing austerity measures in the UK and across most of Europe, that is most remarkable. It is the sheer size and scale of the groups expansion plans in the next few years alone.Dalian Wanda, headed by Chinas fourth richest man, Wang Jianlin, with a net worth of $13.2 billion according to Forbes magazine, has diversified successfully in recent years and now boasts a portfolio of companies with activities in real estate, tourism, hotels and entertainment.Wang has stated publicly that expansion into the UK, which will by no means be restricted to London, will contribute significantly to the groups aim to become a $100 billion company by 2020.But is this blind, reckless ambition without any clear, cogent strategy? It is not. It also has nothing to do with any egotistical leadership.Instead, Dalian Wanda is part of a new breed of Chinese companies that are plotting a path to global expansion, and in so doing investing substantially in a lackluster European economy.Evidence of Wangs calculated and crafted expansion strategy can be found in recent takeovers. Last year, for example, Wang paid 320 million pounds for the highly prestigious UK luxury yacht builder Sunseeker, and the year before he forked out a cool $2.6 billion for the United States-based cinema chain AMC. The AMC acquisition remains the biggest takeover of a US firm by a Chinese organization.Further evidence of Wangs and Wandas ambitions can be found with just a cursory comparison between the current company valuation, $30 billion, and the 2020 goal, $100 billion.But most interesting and portentous about Wandas acquisitive expansion activity is the clear intention to pursue growth via international markets only. Further, Wandas spotlight appears focused mainly on the most developed countries and cities.Previous Page1 2 3 Next PagePrevious Page1 2 3 Next Page8.03KRelated StoriesWanda takes over e-payment company 99BillWanda chief survives poor IPOGroup in talks to buy Lions Gate stakeWanda to expand luxury hotel business globallyWanda, Baidu, Tencent to spend 20b yuan in e-commerce JV in 5 yrsPhotoCat-themed cafe in Northeast Chinas Liaoning provinceTop 10 economic events that made news in 2014Chinas first bullet train ambulance unveiledHigh-speed railway linking Guiyang, Guangzhou starts operatingUpgraded Mao Zedong locomotive ready for anniversaryShanghai native makes tiny car with $240China Economy By NumbersChina Economy by Numbers – Dec China Economy by Numbers – Nov NewsmakerTesla gets new local chief CICC chief steps down from postMost ViewedTodays Top NewsElectrical cable maker finds doing business in Afrira challengingChina UnionPay Cards Surge in S. KoreaChina central bank alters deposits calculation rulesHoteliers eye outbound deals for business growthChina to ease investment rules in FTZFarming innovation gets overseas inputsTills ringing in toytown where traders see huge opportunitiesWorking priorities shift for new graduatesHot TopicsFiat SpA Peugeot SA Taxi app Internet finance Housing price Disneyland WeChatEditors Picks10 high-level execs under investigation Top 10 fitness trackers ranked by price Top 10 most innovative cities in the Chinese mainland Top 10 immigration destinations for Chinese SpecialsWorld Internet Conferencebauma China 2014What to expect from Alibaba IPO…| About China Daily | Advertise on Site | Contact Us | Job Offer | Expat Employment |Copyright 1995 -var oTime = new Date();
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