HNA puts $1.4 billion stake in Hilton spinoff up for sale
Debt-laden Chinese HNA Group may sell its 25% stake in Park Hotels & Resorts which was bought last year in its latest asset sale.
HNA Group plans to sell as much as its entire $1.4 billion stake in Park Hotels & Resorts. as the debt-laden Chinese conglomerate speeds up asset disposals to repay debts.
The sale could involve some or all of HNA and its units’ 53.7 million shares, according to a regulatory filing in the U.S. Any disposal would be subject to market conditions, according to the statement.
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