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HNA touts assets for sale as funding crunch intensifies


Embattled group: Chen Feng, co founder and chairman of the conglomerate speaking to reporters at an aviation event in Haikou, Hainan province recently. The finance-to-aviation group has been ramping up asset sales over the past year due to soaring debt and increased government scrutiny of aggressive deal-making. — Reuters

Embattled group: Chen Feng, co founder and chairman of the conglomerate speaking to reporters at an aviation event in Haikou, Hainan province recently. The finance-to-aviation group has been ramping up asset sales over the past year due to soaring debt and increased government scrutiny of aggressive deal-making. — Reuters

BEIJING: China’s indebted HNA Group met bankers to tout the latest assets that the sprawling conglomerate is putting on the block as it looks to raise funds and stave off an intensifying cash crunch.

The range of assets, spanning a hotel project in frozen Harbin and stakes in struggling online lender Dianrong, insurer Bohai Life and brokerage HNA Futures, underscores how the group is shedding almost all non-core businesses as it pares back an empire that once spread from Deutsche Bank to Hilton Worldwide.

Corporate News , HNA , debt , assets

   

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