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HNA nets nearly $2 billion in selling its 25% Hilton stake

04/26/2018| 2:38:45 PM| 中文

The sales bring much-needed cash to the debt-ridden HNA group, which has come under pressure from the government and markets for its heavy debt.

HNA Group recently has sold its entire 25 percent stake in Hilton Worldwide Holding for USD 5.9 billion, domestic news site 21jingji.com reported on Wednesday.

The sale was done in two tranches at an average price of USD 71 per share. 

It followed the sale last month by HNA Group of its stake in two other Hilton companies, Hilton Grand Vacations and Park Hotels & Resorts, for a total of USD 2.5 billion. 

The three companies were originally a single one, in which HNA bought a 25 percent stake in 2016 for USD 6.5 billion. 

The sales will thus produce about USD 2 billion total profit for HNA.

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TAGS: HNA | Hilton
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