BEIJING - Mr Wang Sicong, the only son of the founder and chairman of Chinese conglomerate Dalian Wanda Group, has reportedly reached an agreement with creditors after local courts declared him a debtor and placed curbs on his flamboyant lifestyle.
Bloomberg reported that the 31-year-old will compensate dozens of investors in his now bankrupt entertainment firm and will shoulder a loss of almost 2 billion yuan (S$387 million), according to a statement on the website of his investment firm Prometheus Capital.
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