HNA Group to unload $11b in assets
Chinese conglomerate HNA Group has plans to sell off another $11 billion of assets, confirmed Reuters, accelerating a push to cut its large debt and restructure.
The assets total more than 80 properties, located primarily in China and in Hainan Island.
HNA has already sold or agreed to sell around $20 billion in assets since January, including assets in Sydney, New York and Hong Kong. The company’s debt was listed at $95 billion through June, which was down 10.7 percent from the end of 2017.