Acquisition Spree: Hna and Deleveraging Campaign

acquisition spree: The group's also been embroiled in an increasingly bizarre power struggle over control of Hong Kong Airlines, while people familiar with the matter say HNA shelved the sale of a container-leasing business after failing to find anyone willing to pay the 1 billion-plus price it was seeking. ; For HNA, the setbacks underscore how the group is still struggling to deal with the fallout of a global acquisition spree that pushed it deep into debt, according to The Japan Times. Despite agreeing to sell more than 25 billion in assets since the beginning of 2018, HNA's travails more broadly show how China's two-year deleveraging campaign continues to rock some of its biggest targets, many of which emerged during a period when the government was encouraging private enterprises to seek out overseas assets. In April, creditors of the embattled Chinese conglomerate took the extraordinary step of seizing golf courses and other assets after a unit missed a loan payment. The situation is dire, said Brock Silvers, managing director of Kaiyuan Capital, a multi asset advisory and investment firm focused on China. At this point there are no safe harbors for HNA investors. The missed loan payment by CWT International Ltd., a Hong Kong-listed investment holding company HNA controls, reveals the depth of HNA's current predicament. (news.financializer.com). As reported in the news.