HNA unit to sell two Hong Kong sites to Henderson Land for $2 bln

Tysan Holdings

13/02/2018 24:36

HONG KONG, Feb 13 (Reuters) - A unit of China's HNA Group 
 HNAIR.UL , the cash-starved aviation-to-financial services 
conglomerate, said on Tuesday it was selling two Hong Kong sites 
to Henderson Land Development Co Ltd  0012.HK  for HK$16 billion 
($2 billion).     
    Completion of the deal for the two pieces of land at Hong 
Kong's Kai Tak area was expected to be completed on Feb. 14,  
Hong Kong International Construction Investment Management Group 
Co Ltd  0687.HK  said in a statement to the stock exchange. 
    It gave no further details. 
    HNA Holding Group, through its subsidiaries, had won tenders 
 for the land in Kai Tak for about HK$14.2 billion in late 2016. 
    The sale comes as HNA faces financing strains following a 
$50 billion acquisition spree over the past two years, which has 
sparked scrutiny of its opaque ownership and use of leverage. 
         
($1 = 7.8195 Hong Kong dollars) 
 
 (Reporting by Donny Kwok; Editing by Anne Marie Roantree and 
Stephen Coates) 
 ((donny.kwok@thomsonreuters.com; +852 2843 6470; Reuters 
Messaging: donny.kwok.reuters.com@reuters.net)) 
 
Keywords: HKICIM GROUP HNA/