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Chinese investments in Spain: failures in football and real estate

2022-01-13T18:22:57.501Z

Like several French groups, our neighbors have also experienced disappointments on the takeover of companies bought by China.



Madrid

“A new Atlético is born in Beijing”,

greeted in 2015

Marca

, the great Spanish sports newspaper.

The Chinese conglomerate Wanda then bought 20% of the shares of the Madrid football club Atlético for 45 million euros.

"It's a dream,"

said club president Enrique Cerezo.

“This partner opens the doors to the Asian market for us, helps us finance ourselves through sponsors and training programs,”

added its managing director, Gil Marin.

Weary, over-indebted and summoned by Beijing to put its finances in order, Wanda got rid of its shares three years later, resold for 50 million euros to an Israeli shareholder.

Of the Chinese dream, there remains a word.

The Metropolitano stadium, inaugurated in 2017, will bear the name of Wanda until 2027.

See also

The mirage of corporate takeovers by China

In 2013, Forbes

magazine

ranked Wang Jianlin, boss of Wanda, as the richest man in mainland China.

His project, far from being the isolated whim of a whimsical billionaire, was nevertheless part of a context of interest…

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Source: lefigaro

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