Chinese companies only completed US$1.8 billion of acquisitions and greenfield investments in the United States in the first five months this year, representing a 92% drop from the same period in 2017, and the lowest half-year figure in seven years, according to New York-based research firm Rhodium Group.
HNA Group is selling a property project in Shanghai to Chinese developer Fujian Group for RMB2.9 billion (US$456 million) to shore up its balance sheet, according to a security filing issued today by HNA Capital, the financial services arm of HNA.
Tianjin Tianhai Investment Co., Ltd., the investment vehicle of Chinese conglomerate HNA Group, best known for acquiring American company Ingram Micro in 2016, is acquiring the assets of e-commerce platform Dangdang for RMB7.5 billion (US$1.2 billion).
The campaign by Chinese aviation-based conglomerate HNA Group to pay down debt by unloading assets appears to have slowed in the face of market turbulence.
Chinese conglomerate HNA Group has agreed to sell all its 25% stake in Hilton Grand Vacations Inc., a timeshare spinoff from U.S. hotel chain Hilton Worldwide, according to Hilton Grand’s securities filing.
China’s embattled HNA Group is again selling assets to pay down its debt burden. In a statement to the Hong Kong stock exchange Tuesday, HNA unit Hong Kong International Construction Investment Management Group Co Ltd said it will sell two Hong Kong properties to Henderson Land Development Co Ltd for HK$16 billion (US$2 billion).
China’s HNA Group Co., Ltd., has told creditors that it is facing a liquidity shortage of at least RMB15 billion (US$2.4 billion) as it approaches a deadline to repay debts in the first quarter, according to media reports citing insiders.
The great unwinding has begun. Driven by overstretched balance sheets and a government crackdown on lavish overseas spending, China’s two biggest corporate shoppers, Dalian Wanda Group and HNA Group, are set to go on a selling spree. And early indication are that we are about to see a fire sale. Speaking Monday as his company announced results, Wang Jianlin, CEO of Dalian Wanda said the company he heads "will resort to every financial tool to reduce debt, including the disposal of …
Chinese conglomerate Dalian Wanda Group has agreed to sell London luxury development project One Nine Elms for 59 million pounds (US$81 million) , amid a wave of asset sales by the conglomerate to reduce debt.