China’s Mega-Dealmakers Pivot to Recoup Capital
Some of China’s boldest foreign dealmakers are racing to raise capital by issuing bonds and selling assets, signaling a retreat from an overseas shopping spree that lasted several years and added up to tens of billions of dollars.
HNA Group, which owns large stakes in Deutsche Bank and Hilton Worldwide, picked up the pace in issuing bonds at home and overseas in recent months. The push has fueled speculation that HNA’s aggressive acquisitions strained its finances.
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