, Columnist
HNA’s Fire Sale Isn’t Offering Any Bargains
If you’re rummaging for discounts in this debt pile, you may be disappointed
Cheap at the price.
Photographer: Goh Seng Chong/Bloomberg
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At HNA Group Co., everything must go. But peer through the noise, and it looks like this distressed seller isn’t offering bargain-basement prices.
The Chinese conglomerate remains mired in chaos and confusion after its co-chairman died suddenly. The billions of dollars of assets it accumulated since early 2015 are, in theory, up for sale to service its heavy debt burden into the end of this year. HNA has parted with some $20 billion of its jewels so far, but it’s not looking like a fire sale yet.