Sunac and Wanda are expected to sign an agreement by the end of this month. Shares in Wanda Hotel Development surged more than 150 percent after the news. Wanda said Tianjin-based Sunac, led by magnate Sun Hongbin, will be responsible for all the loans for the projects, but the brand name and design of the projects will remain unchanged, and they will still be operated and managed by Wanda. Sunac, whose shares in Hong Kong were suspended from trading ahead of what it said would be a "very substantial acquisition" announcement, declined to comment further.