The once high-flying Chinese conglomerate HNA Group Co. Ltd. is seeking strategic investors for its airline, airport and retail businesses after receiving court approval to include the giant and 320 of its related companies in a single bankruptcy restructuring case.
HNAs decision, made public Friday in three separate announcements by its restructuring team, offers a glimpse at which parts of the conglomerates sprawling business empire might survive restructuring as the company attempts to crawl out from under the heap of debt it amassed during a global buying binge. Once one of Chinas most prominent and prolific dealmakers, HNA attracted attention for purchases including stakes in New York-listed hotel giant Hilton Worldwide Holdings In…
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