Soccer Football - Santander La Liga - Atletico Madrid vs Malaga CF - Wanda Metropolitano, Madrid, Spain - September 16, 2017 Atletico Madrid’s Antoine Griezmann celebrates scoring their first goal REUTERS/Sergio Perez
Soccer Football - Santander La Liga - Atletico Madrid vs Malaga CF - Wanda Metropolitano, Madrid, Spain - September 16, 2017 Atletico Madrid’s Antoine Griezmann celebrates scoring their first goal REUTERS/Sergio Perez

China's Dalian Wanda sells 17 pct stake in Spain's Atletico Madrid

Wed, Feb. 14, 2018
MADRID, Feb 14 (Reuters) - Dalian Wanda Group has sold a 17 percent stake in Atletico Madrid, the Spanish soccer club said on Wednesday, the latest step in the Chinese conglomerate's strategy to reduce debt.

Wanda sold the stake to Quantum Pacific Group, after buying a 20 percent stake in Atletico in 2015 for 45 million euros ($56 million), when it became the first mainland Chinese company to invest in a premier European club.

The sale adds to deals worth about $16 billion that Wanda has announced since last year. In January, Wanda said its commercial property arm reached a deal to get a $5.4 billion investment from a group led by tech giant Tencent Holdings .
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