Chinese consortium Dalian Wanda now owns a majority share in the British boatbuilder

British boatbuilder Sunseeker has completed on its deal with Chinese company Dalian Wanda to buy a majority share in the company.

The deal, which will see Dalian Wanda Group purchase a 92% share of the British boatbuilder for £320m, was first announced in June but until now it has been subject to Chinese regulatory approvals.

Gemma Marsh of Sunseeker said, “As previously confirmed and as part of this transaction, Sunseeker will remain a British company, headquartered in Poole and will maintain its existing primary production base in Dorset, along with its current workforce and infrastructure.

“The existing management team will remain on the Sunseeker boards and Robert Braithwaite, the founder of the company, will continue to be involved in the business and remain as Group President. Robert and Sunseeker’s management team have made a significant reinvestment in the business, providing continuity and a strong platform for the new model programme currently being developed in Poole.”

The new majority shareholder, Dalian Wanda Group, which is China’s largest premier commercial property and entertainment conglomerate, says it supports Sunseeker’s commitment to providing premium products.

Marsh said, “This is fantastic news for the business, the wider Sunseeker family, the motor yacht industry and will allow Sunseeker to expand its global base still further while retaining its current operational and manufacturing infrastructure at our headquarters in Poole.”