HNA Group cemented its reputation as one of China’s most acquisitive groups by buying a 25% stake in Hilton last week for USD 6.5 billion last week.
In less than two years HNA has announced foreign and domestic transactions worth more than USD 33 billion — half spent offshore, according to a FT report, citing data from Dealogic.
Yet the dizzying rate of HNA’s recent acquisitions, the diversity of its targets and indebtedness of many of its units has raised questions about the pace and coherence of its expansion.
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