Equities

Reuters exclusively reports HNA in talks with bad debt firm Cinda as it extends $43 billion asset sales

Reuters exclusively reports HNA in talks with bad debt firm Cinda as it extends $43 billion asset sales

Reuters was first to report that Chinese conglomerate HNA Group was seeking advice from state-owned China Cinda Asset Management Co on asset sales. Faced with soaring debts and China’s crackdown on aggressive dealmaking firms, the airlines-to-finance conglomerate has been pushing ahead with a series of asset sales that have so far included real estate and stakes in hotel groups. Cinda, which is among the country’s largest bad debt managers, told HNA it stood ready to help, according to an internal memo sent to HNA staff and reviewed by Reuters.


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