HNA has gained a much-needed cash injection by selling off two parcels of land in Hong Kong to developer Henderson Land for a fee of just under HK$16 billion ($2 billion), the Financial Times reports.
The Hainan-based conglomerate announced in a stock exchange filing that it will earn a total of HK$15.8 billion for its interests in Sky Hero and Total Thrive, two land parcels located near Hong Kong’s former airport zone Kai Tak.
HNA initially acquired the land in late 2016 for an above market rate of HK$14.2 billion.
You must log in to post a comment.
Yes, I would like to receive emails from China Economic Review. (You can unsubscribe anytime)
Copyright © 2018 SinoMedia Group Limited All rights reserved