Quick Take: HNA Checks Out of Hilton Timeshare Stake
Debt-laden conglomerate HNA Group continues to dispose of assets, selling off its 25% stake in a Hilton Worldwide Holdings Inc. timeshare spinoff.
HNA’s decision to offer “some or all” of its stock in Hilton Grand Vacations Inc., announced in a U.S. securities filing Tuesday, comes after media reports that HNA was mulling such a move to lower its debt level. HNA’s move comes as Chinese authorities continue to scrutinize big-name companies that embarked on international acquisition sprees through borrowing in the past few years.
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