After the death of its co-chairman in July, HNA Group continues to downsize its overseas empire. Senior executives have left the company and some of its Hong Kong subsidiaries have closed.
Singapore group raises equity to buy five warehouses from a unit of embattled Chinese conglomerate. It joins a number of Singaporean Reits and trusts in buying assets before further US rate hikes.
The Chinese conglomerate builds its stake in its Hong Kong-listed property subsidiary, giving investors a boost. The sums are small, but hint a huge offloading of asset has had an effect.
After briefly serving in the Trump administration as a senior adviser to commerce secretary Wilbur Ross, Israel Hernandez will help embattled Chinese conglomerate with government relations.