Acquisitive Chinese company HNA discloses new ownership

Bruno Cirelli
Luglio 25, 2017

Two charities named Cihang, one based in NY and the other in Hainan, own 52% of HNA Group, according to a company statement on Monday.

Tan said that HNA maintains a strong working relationship with its main Wall Street banks, which include JPMorgan, UBS and Morgan Stanley, and reports that some were scaling back credit to the group were not true. Since its founding in 1993, HNA Group has evolved from a regional airline based on Hainan Island in southern China into a global company with approximately United States dollars 145 billion of assets, over USD 90 billion in annual revenues, and an worldwide workforce of 410,000 employees, primarily across America, Europe and Asia.

As recently as a year ago, according to a 2016 filing, HNA said Bharat Bhise, CEO of Bravia Capital, and Guan Jun, a Beijing businessman, owned 17.4 percent and 12.35 percent respectively.

HNA said in the statement that while it is a private company with no obligation to disclose its ownership, it would "respect and appreciate the desire for transparency in this regard". That shareholding had been transferred to the foundation, Tan said.

Tan also said he had not had contact with the European Central Bank, which is considering a possible assessment of Deutsche Bank's two largest shareholders, including the Qatari royal family.

"I think the German government clearly said it welcomes all. kinds of investment", he said.

Fortune said earlier on Monday that HNA had moved up in the Fortune 500 ranking this year to 170th from 464th.

Tan said HNA continues to move forward with deals, even as its acquisition spree slows. The statement represents HNA's most detailed disclosure about its ownership and comes as the group faces increasing scrutiny, and as it tries to purchase the hedge-fund firm of White House communications director Anthony Scaramucci.

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