Deals
China’s HNA Is Planning to Sell Properties Worth $2.2 Billion
- Nine of the buildings have combined book value of $2.2 billion
- Sale would be latest in string of disposals for conglomerate
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HNA Group Co. is planning to sell properties including office buildings and hotels across China, according to people familiar with the matter, as the embattled conglomerate scrambles to repay its debts.
The buildings include Shanghai HNA Tower, Shanghai Yangtze International Enterprise Plaza and Renaissance Shanghai Pudong Hotel, said the people, asking not to be identified as the deliberations are private. Nine properties HNA has put up for sale in Shanghai and Beijing have a combined book value of about 14 billion yuan ($2.2 billion), one of the people said.