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Wanda sold retail store chain to Suning

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Wanda Group, the big China real estate developer led by billionaire Wang Jianlin, has continued to offload non-core assets by selling a department store chain to Suning.com, one of China’s largest online and offline retailer.

Suning said in a press release today it will take over 37 department stores with a membership of four million consumers. Suning’s Shenzhen-traded shares rose by 3.1 per cent after the announcement.

The agreement is the second since the . . .

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