HNA to sell Hilton stake to bring total asset disposal to $13 billion
The embattled Chinese conglomerate has so far dumped $6 billion of assets including a Sydney property, land sites in Hong Kong and part of a stake in Deutsche Bank.
HNA “has determined to pursue a sale of some or all of the common stock” that it currently holds in Hilton Worldwide, the US company said in a filing to the Securities and Exchange Commission on Thursday.
Currently, HNA owns 26.1 per cent of Hilton, one of the world’s largest hotel operators, which was worth USD 6.5 billion in value by Thursday’s market close in the US.
The Chinese company did not respond to a request for comment on Friday afternoon.
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