There has been a significant change to a multi-billion yuan real estate deal involving Dalian Wanda and Sunac China.
Sunac is no longer the buyer for the nearly 80 hotel properties that Wanda has been looking to offload.
Under the previous deal, Dalian Wanda had agreed to sell the hotels and a majority stake in 13 cultural and tourism projects to Sunac for a combined total of 63 billion yuan.
Now, Sunac will spend 43 billion on the culture and tourism properties only, while R&F will spend 20 billion on the hotels.
Fitch Ratings and Standard & Poors put Sunac on negative credit watch following the announcement of the initial deal last week, as observers noted that Sunac would have had to borrow from Wanda in order to complete the transaction.