Sunseeker Sold?

Wanda agrees to sell UK boatbuilder to US investment firm, according to unnamed sources.

Bloomberg is reporting an entity affiliated with Dalian Wanda Group Co has agreed to sell UK yacht-maker Sunseeker International Ltd to Lionheart Capital, according to people with knowledge of the matter.

Bloomberg claims the Chinese conglomerate and Miami-based Lionheart have signed a so-called sale and purchase agreement, according to one of its sources, all of whom asked not to be identified discussing confidential information.

The transaction, which is subject to British regulatory approval, is poised to close as soon as next month, one of the people said.

Sunseeker declined to comment when approached by IBI.

Representatives for Wanda and Lionheart didn’t immediately respond to requests for comment.

Miami-based Lionheart Capital describes itself as a diversified investment firm focused on building shareholder value in high-growth companies. Lionheart Capital’s principals have been involved in the successful acquisition, development, repositioning and disposition of real estate and publicly traded assets for over 30 years.

Lionheart’s key investment areas are private and publicly listed companies, residential and hospitality and retail and commercial. One of its privately-owned brands is the World Champion Cigarette Racing Team which is described as ‘an American Offshore Legend’.

This brand produces a range of hand-crafted boats between 38ft and 59ft which focus on performance, power, precision and comfort. The company was formed in 1969, ironically the same year as Sunseeker International.