Last night, encouraging news came from WeChat`s WeChat moments, with Chinese tuhao throwing $1.1 billion Australian dollars. Buy Sydney landmark QVB (Queen Victoria Building). Some even commented that the next step would be to buy the Sydney Opera House.
Yet?!
This is just another rumor in the WeChat circle. As in the WeChat circle, Australia is officially visa-free to China. This old-fashioned rumor has been heard for years, but there are always people who fall for it, and every time they make up a rumor, they get one hundred thousand easy views.
So what is the story of QVB being bought off by the Chinese?
In fact, Sydney retail group Vicinity Centres and GIC (Government Investment Corp, hereinafter referred to as GIC) asset replacement. Under the agreement, Vicinity will swap part of Chatswood Chase`s shares with GIC for some of QVB,The Galeries, The Strand Arcade`s shares.
Angus McNaughton, president of Vicinity, said the two companies had been discussing the matter for months, and that it would be a win-win outcome.
The deal, one of the largest retail asset swaps in downtown Sydney, will significantly increase Vicinity`s allocation of retail assets on the east coast of CBD.
The Chinese investment in Australia has been huge these years. Wanda, for example, bought a 100% stake in Australian cinema HOYTS in 2015. Some people are excited not to be able to say what can be seen in HOYTS after the domestic New year film! Then, in 2017, Wanda sold Australian property for 10.6 billion. Wanda then said that this is a rumor, in fact, how exactly what, no one knows. As for watching domestic New year movies on HOYTS, your willingness to contribute to the growth of Wanda`s assets does not mean that most people in Australia are willing to do so.
So, for these big acquisitions, as an onlooker, they will also watch the bustle, as to what is going on? I don`t know much. The operation of capital is clearly beyond the reach of the onlookers. It is also hard to say what the acquisition will bring. For example, in the early years, I heard all the time that Japan had bought this one from the United States and bought the one from the United States. It felt that the entertainment industry in the United States had been monopolized by the Japanese. And then, what`s going on? Hollywood is still that Hollywood, not affected at all. As to whether investors make money, no one knows. The same applies to investment in Australia.
