HNA sells property and logistics assets to Sun Hongbin

HNA Infrastructure Investment, a listed unit of HNA Group, has sold its entire holdings in two companies to a subsidiary of Sunac China, for $305 million, according to South China Morning Post. Sunac China is controlled by Chinese billionaire Sun Hongbin.

A unit of HNA Infrastructure Investment plans to sell its 100 percent stake in Hainan Gaohe Property Development to Hainan Sunac Chang Sheng Estates for approximately 1.13 billion yuan ($180 million).

In a separate filing, HNA Infrastructure Investment said the same unit also will sell its 100 percent stake in Hainan Haidao Construction Logistics to HSCSE for approximately 797 million yuan ($126 million).