BEIJING : China's HNA Group Co Ltd said it has transferred management of its core aviation business, including Hainan Airlines Holding Co Ltd, to strategic investor Liaoning Fangda Group Industrial Co Ltd, effective Wednesday.
In the 2010s, HNA went on a US$50 billion global acquisition spree, mainly fuelled by debt, to build an empire with stakes in businesses as varied as Deutsche Bank AG to Hilton Worldwide Holdings Inc.
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