“Cinda will continue to support HNA’s strategic transformation and its asset disposals in core and auxiliary businesses,” Cinda’s president said, according to the memo. China’s HNA Group is seeking advice from state-owned firm China Cinda Asset Management on asset disposals. Airlines-to-finance conglomerate HNA has been carrying out numerous asset sales, including real estate and stakes in hotel groups, as it combats rising debt and a crackdown by Chinese authorities on aggressive deal-making businesses. The company said the sale of its stake in Hong Kong’s Hang Seng Index was expected to be completed within two weeks.
China’s HNA Group is seeking advice from state-owned firm China Cinda Asset Management on asset disposals. Airlines-to-finance conglomerate HNA has been carrying out numerous asset sales, including real estate and stakes in hotel groups, as it combats rising debt and a crackdown by Chinese authorities on aggressive deal-making businesses. The company said the sale of its stake in Hong Kong’s Hang Seng Index was expected to be completed within two weeks.