Dalian Wanda buys Iron­man

The China Post - - INTERNATIONAL -

Main­land Chi­nese prop­erty and cin­ema gi­ant Dalian Wanda Group said Thurs­day that it is buy­ing the com­pany that owns the Iron­man triathlon brand and race se­ries as it fore­casts ex­plo­sive de­mand in China for the sport.

Wanda is pay­ing US$650 mil­lion for Tampa, Florida-based World Triathlon Corp., which it called “a jewel in the crown of world en­durance sports,” the com­pany said in a state­ment.

The deal to buy World Triathlon, which op­er­ates 250 events a year, “will bring a top in­ter­na­tional com­pe­ti­tion to China for the first time,” it said.

Triathlons, which com­bine swimming, bik­ing and run­ning, have grown in pop­u­lar­ity and are now an Olympic event. More peo­ple in China are pay­ing at­ten­tion to fit­ness as their in­comes rise, the com­pany said. The ac­qui­si­tion adds to Wanda’s grow­ing sta­ble of sports busi­nesses.

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