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The sale along with Tuesday’s deal to sell its stake in Spain’s NH Hotel for $726 million brings the total amount of disposals for the Chinese conglomerate this year to over $14.5 billion
HNA made a small profit, having paid $255 million for the property in August 2016.
Li’s career began in 1950 as a plastic-flowers manufacturer, which he then transformed into a global conglomerate.
A snapshot of five of Hong Kong’s most important business families that have passed the baton, or will soon, to the next generation.
The 89-year-old chairman of CK Hutchison Holdings Ltd. and CK Asset Holdings Ltd. will stay an adviser to the group after stepping down in May.
The disposals, driven by a liquidity squeeze at HNA, have mainly been real estate and shares.
HNA Capital Group Co., held 58,655 Lazard shares, or less than a 0.1 percent stake, as of Dec. 31.
HNA held 9.2% of voting rights in Deutsche Bank, according to a regulatory filing Friday, down from 9.9% previously.
HNA Investment Management LLC sold 6.4 million shares, or 12 percent, of Dorian LPG Ltd. at $7.30 apiece on Friday.
This could be the acquisitive conglomerate’s first-ever disposal of an overseas property as it struggles with mounting debts.