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Dalian Wanda says to buy Swiss sports firm for $1.2 billion


    BEIJING (Reuters) - Dalian Wanda Group Co, which controls China's biggest property developer and largest cinema chain, said it has agreed to buy Swiss sports marketing company Infront Sports & Media AG with a group of investors for 1.05 billion euros ($1.19 billion).

    In its latest push into entertainment and leisure, Dalian Wanda said in a statement it would own 68.2 percent of Infront. The statement did not name the other shareholders.

    The deal comes as Dalian Wanda aggressively expands overseas and diversifies through a string of purchases. The conglomerate has announced three large investments outside China since the beginning of this year.

    ($1 = 0.8820 euros)

    (Reporting by Beijing Newsroom; Editing by Kenneth Maxwell)