Deals
After $17 Billion Deal Spree, Chen Juggernaut Loses in London
- London City Airport was sold to group including AIMCo, Kuwait
- Chen's HNA Group bought at least $17 billion assets in 1 year
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After about $17 billion of acquisitions in the past year, Chinese billionaire Chen Feng hit a speed breaker -- his attempt to buy the London City Airport failed.
Chen, who two decades ago walked the aisle of his startup Hainan Airlines Co.’s lone airplane serving refreshments, lost the bid to a consortium including AIMCo, Ontario Teachers’ Pension Plan and Kuwait Investment Authority. His HNA Group was among the contenders, according to people familiar with the bidding process.