China's Dalian Wanda completes Sunseeker takeover

Sunseeker said production would continue at its Poole headquarters

A Chinese property and entertainment conglomerate has completed its takeover of a Dorset luxury yacht maker.

Dalian Wanda Group is thought to have paid more than £300m for almost 92% of Sunseeker International, famous for providing yachts for James Bond movies.

Sunseeker insisted there would be no job losses at its Poole manufacturing base and the company would remain British.

The group is also investing £700m to develop a five-star hotel in London.

In a statement Sunseeker said: "[The takeover] will allow Sunseeker to expand its global base still further while retaining its current operational and manufacturing infrastructure at our headquarters in Poole."

The Dalian Wanda Group was founded in 1988 and operates in the commercial property, luxury hotel, tourism, and retail sectors.

Its planned new hotel for London is due to be built by the river in Vauxhall.