Jeremy Steinberg
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Jeremy Steinberg in Deals, M&A and more!,

China’s Dalian Wanda to buy Switzerland’s Infront

Chinese property and entertainment giant Dalian Wanda Group Co. is buying Swiss sports-marketing company Infront Sports & Media AG for 1.05 billion euros ($1.2 billion), a move that adds a new business to the Chinese company’s entertainment holdings.

The acquisition will help its presence in sports in China and increase Wanda’s influence in global sports, the Chinese company said at a Beijing press briefing on Tuesday.

Zug, Switzerland-based Infront oversees media and marketing rights for international sports events and organizations. Infront President and Chief Executive Philippe Blatter — who is the nephew of FIFA President Sepp Blatter — said the deal will help it boost investments and improve its offerings in sports.

An expanded version of this report appears on WSJ.com.