HNA’s Debt Battle Continues With Hong Kong Land Sale, Xinjiang Investment
HNA Group’s struggle to pay off its debts continues, with the Chinese conglomerate this week announcing a major Hong Kong land sale and an investment deal with a local government in Xinjiang.
Omnilink Assets Ltd., a unit of HNA’s Hong Kong subsidiary Hong Kong International Construction Investment Management Group Co. Ltd. (HKICIM), will sell a 7,318-square-meter (78,770-square-foot) plot of residential land in Kowloon, Hong Kong, to local developer Wheelock and Co. Ltd. for HK$6.4 billion ($825 million), Wheelock said in a stock exchange filing Thursday.
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