Troubled HNA Group Shuffles Assets to Raise Money
More details have emerged of plans by debt-ridden airlines-to-property conglomerate HNA Group to restructure some of its listed subsidiaries that have halted trading in their shares pending announcements of changes aimed at helping the company repay its borrowings.
Shanghai-listed HNA Infrastructure Investment Group Co., which is primarily involved in real estate development in China, will buy subsidiary HNA Finance I Co., an investment holding company, from another HNA unit, Beijing Hainan Airlines Finance Holding Co., for 10.38 billion yuan ($1.60 billion) through a cash and stock deal, according to a filing with the Shanghai Stock Exchange on Friday.
- 1 Own Goal? China Company Faces Massive Customer Refund If France Wins World Cup
- 2The World According to China’s No. 1 Travel Agent
- 3Opinion: How Did China Leapfrog Everyone in E-Commerce?
- 4 Biotech Firm BGI Denies Accusations of Property Development, Bribery
- 5China Urges American Companies to Help End Trade War
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas