Chinese hospitality provider Jin Jiang International Holdings Co. is weighing a bid for Radisson Hotel Group, the global chain owned by HNA Group Co., people with knowledge of the matter said.
Jin Jiang, which is controlled by the Shanghai government, is in the early stages of considering a potential offer, according to the people. HNA could fetch at least $2 billion from a sale of Minneapolis-based Radisson, which may also attract other bidders.
HNA is exploring a sale of Radisson as the embattled Chinese conglomerate offloads assets around the globe, Bloomberg News reported in June. Should the sale be completed, it would add to more than $17 billion in divestments that HNA has made this year to lower its debt, which had soared to one of the highest levels in corporate China.
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