Deals
HNA Unit CCOOP to Buy Retail Assets as Parent Reorganizes
- The firm plans to buy assets from a number of third parties
- Six other HNA units suspended from trading this month
An employee sets up tape near the counter for Hong Kong Airlines, owned by China’s HNA Group, at Hong Kong International Airport.
Photographer: Brent Lewin/Bloomberg
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A unit of HNA Group Co. plans to acquire retail assets as part of the Chinese conglomerate’s reorganization.
HNA’s CCOOP Group Co. may also sell shares as part of its plan for the purchase, according to a statement to the Shenzhen stock exchange late Tuesday. CCOOP is planning to buy stakes or assets from five companies including two property firms, a logistics company, a payment provider and an e-commerce software business. The unit will remain suspended from Shenzhen trading until further notice, according to the statement.