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HNA gives up bid to build hotel empire with Radisson sale

08/10/2018| 5:47:59 PM| 中文

HNA Group has agreed to sell Radisson Holdings to a consortium led by hospitality group Jin Jiang International Holdings, according to a Radisson announcement late Thursday.

Cash-strapped Chinese conglomerate HNA Group has agreed to sell Radisson Holdings to a consortium led by hospitality group Jin Jiang International Holdings, according to a Radisson announcement late Thursday.

After the share purchase, the consortium would also acquire 100% of Radisson Holdings Inc for an undisclosed amount.

This year alone, HNA sold out of Hilton Worldwide Holdings and its spinoffs for a combined USD 8.5 billion, and began unloading its NH shares to a Thai group

To be sure, HNA will still operate hotels under the Tang and Tangla brands, but they're mainly scattered across China, according to its website.

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TAGS: HNA | Jin Jiang | Radisson
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