8 hours ago
Suning.com Sues Wanda for Buyback Payment of 5 Billion Yuan
TMTPOST -- Suning.com has filed the arbitration request to the China International Economic and Trade Arbitration Commission over Wanda's failure to pay equity buyback payment, according to an announcement made by the retailer. Suning is requesting Dalian Wanda Group Co., Ltd. to pay Suning Group Co., Ltd. and its subsidiary, Suning International Group Co., Ltd., 5,040,598,551.33 yuan in equity repurchase funds. At the same time, Suning is demanding Dalian Wanda Commercial Management Group Co., Ltd. assume joint liability for the payment obligation of Wanda Group.
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