Taimei discusses acquiring 500 mainland shopping malls: This is quite a big bet.

At the "Dialogue with International Investors" session of the 2024 International Financial Leaders Investment Summit held in Hong Kong, Chris Gradel, co-founder and CEO of Teamind Investment Group, described their recent purchase of 500 shopping malls in mainland China as "a fairly large bet", but emphasized that it was a very good deal with predictable cash flow as these malls are focused on weekend leisure activities such as dining, children's entertainment, and more. Gradel stated that the valuation and financing prices for the acquisition in China were reasonable and one of the cheapest financing options globally, allowing them to purchase cash flow at a very reasonable price. This is said to be the largest acquisition financing scheme in history conducted in Renminbi with local banks. Earlier reports indicated that the consortium led by Teamind had agreed in March this year to take over the shopping mall unit of Dalian Wanda Group Limited, with around 500 malls involved and an estimated valuation of 100 billion RMB. As a regional company, Gradel mentioned that Teamind has always been looking for the best opportunities in the region, especially in a market as huge as China. The company has recently been active in mutual funds and hedge funds, launching long-only products for the Chinese market, believing in the reasonable valuation for the medium-term prospects. When discussing investment in China with investors, Gradel divided them into three groups: those who are resolutely against investing due to geopolitical reasons, those who are cautious and wait for economic situations to improve, and those who are inclined to invest. Gradel highlighted that the Middle East may be the largest group of investors in the latter category, with Middle Eastern clients shifting their investments to China and East Asia, indicating a significant flow of funds from the Middle East to these regions.