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BUSINESS & TECH

HNA Divestitures Reach $14 Bln in Campaign to Reduce Debt

HNA has announced a series of asset sales since late last year, offloading billions of yuan in assets. Photo: VCG
HNA has announced a series of asset sales since late last year, offloading billions of yuan in assets. Photo: VCG

* The deals are the latest in an abrupt turnaround for HNA after years of global shopping spree

* HNA revamped its business structure following the asset sales

(Beijing) — China’s HNA Group has divested more than 90 billion yuan ($14 billion) of assets over the past few months, offloading stakes representing some of its highest-profile deals, as the company steps up efforts to reduce debt after years of sprawling expansion.

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