The company, along with the likes of Dalian Wanda Group Co. and Anbang Insurance Group Co., is now reversing course after spearheading an unprecedented shopping spree of high-profile assets worldwide
HNA has held talks with companies controlled by the families of Hong Kong billionaires Li Ka-shing and Henry Cheng.
NWS and Chow Tai Fook are the latest to join a slew of companies in Asia to bet on aircraft leasing as a travel boom in the region fuels demand for planes from airlines
Wang’s sudden death comes at a time that the group, one of China’s most indebted companies, is seeking to recover from soaring borrowing costs after years of debt-fueled expansion.
Since taking over CK Hutchison in May, Li has displayed the same penchant for deal-making as his father, Li Ka-Shing.
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.