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HNA to Revive Sale of Container Unit Seaco to Raise Cash

  • Chinese group had shelved an earlier attempt to sell Seaco
  • HNA may accept lower bids while it seeks more than $1 billion
Updated on

HNA Group Co. is considering reviving a sale of its container-leasing business Seaco as the troubled Chinese conglomerate seeks more cash to pay down debt, people with knowledge of the matter said.

The company has decided to restart work with advisers to identify potential buyers for Seaco, said the people, asking not to be identified because the matter is private. That came after HNA earlier this year decided to shelve a sale of the business due to disagreements over valuation.