PAG Asia Capital, an Asia-focused Alternative Investment firm, and Dalian Wanda Commercial Management, a hotel management brand, agreed to acquire tNewland Commercial Management, a newly formed holding company of Zhuhai Wanda Commercial Management Group, from Dalian Wanda Group, a private property developer, for $8.3bn. The investment will facilitate corporate governance independent from Newland’s former parent, provide better incentives for its management and support continued operational improvement.