Deals
HNA Stymied in Attempt to Sell Out of $8.5 Billion Plane Lessor
- Group was gauging Orix interest in buying remainder of Avolon
- Disposal would have been one of HNA’s biggest asset sales
This article is for subscribers only.
HNA Group Co. has been stymied in an attempt to sell out of plane lessor Avolon Holdings Ltd., in what would have been one of the indebted Chinese conglomerate’s biggest divestments to date as it unwinds a global deal spree, people with knowledge of the matter said.
HNA reached out to Orix Corp. in the past few months to gauge the Japanese financial group’s interest in buying its remaining 70% stake in Avolon, according to the people. Orix decided in the end that it wasn’t interested in pursuing a deal, the people said, asking not to be identified because the information is private.