After a run of international media reports from such as Bloomberg and the South China Morning Post there is growing acceptance that the leading UK luxury yacht builder Sunseeker International has been sold by its Chinese owners, Dalian Wanda to Lionheart Capital, a Miami-based investment house.
The cause for the sale appears to be that Dalian Wanda, a huge Chinese conglomerate owning shipping malls, real estate and entertainment centres, is facing serious financial challenges and needs to raise funds to reduce its debts and fend off bankruptcy.
It is reported that the arm of the Dalian Wanda Group that owns Sunseeker International has signed a sale and purchase agreement with Lionheart Capital but as yet no one of the three parties involved have given any confirmation about the deal.
The purchase would be subject to UK regulatory approval but this is unlikely to be an issue as other UK yacht builders such as Princess Yachts are owned by an American private equity group and Fairline Yachts by a Luxembourg-headquartered private equity house.
