HNA Group bankrupt: China’s largest asset buyer succumbs to loans
HNA Group – an investor or affiliate of more than 18 airlines – has been ...
More intrigue and speculation about China’s “mysterious” HNA Group. Yesterday co-chairman Wang Jian, who held 15% of its shares, fell off a wall while posing for a photograph in France and tragically died. Mr Wang, reports Reuters, was regarded as the driver behind HNA Group’s $50bn acquisition spree. He was in charge of strategy and day-to-day operations. His shares will now pass to a New York charity fund which, together with a China fund, holds 52% of the shares.
Bloomberg asks ‘HNA followers’ what the effect on the company might be.