HNA Seeks Stake in Dangdang Amid Debt Battles
HNA has pared back some of its offshore assets to reduce debt over the past months. Photo: VCG
After months of slowdown in acquisition pace amid public concerns over its debt-driven investment spree, Chinese conglomerate HNA Group Co. is moving toward another deal to buy a stake in one of the country’s e-commerce forerunners — Dangdang Inc.
Tianjin Tianhai Investment Co. Ltd., the Shanghai-listed subsidiary of HNA, said in a Friday filing that it is seeking a stake in Dangdang. Details about the deal have yet to be confirmed. In response to Caixin’s request on Saturday, Dangdang didn’t comment directly on the deal but said “the company has seen fast profit growth in recent years and has been approached by many investors.”
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