Deals
HNA, SkyBridge Drop Deal as Scaramucci Plans Return
- Both sides concluded government approval would take too long
- Hedge fund impresario spent 10 days in Trump’s White House
This article is for subscribers only.
HNA Group Co. and SkyBridge Capital have agreed to drop the Chinese conglomerate’s plan to acquire the investment firm. Founder Anthony Scaramucci will return as a co-managing partner.
The New York-based hedge fund and the aviation-to-real estate group plan to explore a relationship to distribute SkyBridge products in China, they said in a statement Monday. Both sides agreed that U.S. government approval of the planned acquisition would have taken too long.