Chinese investor gets rid of its stake in Hilton hotel holding

Beijing. March 3. Silkroadnews - The fast-growing Chinese company HNA Group gets rid of its stake in the chain of Hilton hotels, CNN reports.
HNA Group reported it plans to sell “some or all” of its 25% stake in Park Hotels & Resorts, which owns more than 50 Hilton properties in the US, Europe and South America. Currently the stake of HNA is said to be around $1.4 billion.
HNA sells assets to improve its financial position. Another reason behind is also the fact that the Chinese authorities do not welcome heavy overseas investments by large companies any more.
Reportedly, HNA’s empire includes a 9% stake in Deutsche Bank (DB) and the Radisson hotel chain. The company also reached an agreement to acquire Skybridge Capital, a New York investment firm founded by the former head of the White House communications department, Anthony Scaramucci. This deal, the publication notes, is being investigated by the US Committee on Foreign Investment.
HNA is one of several companies from China that are reducing their global ambitions under the pressure from the country’s government.