Top share in Deutsche Bank grabbed by HNA Group
HNA has shares in Hilton Worldwide Holdings also in Ingram Micro and as of Wednesday, it is the biggest stakeholder in Deutsche Bank.
3 May 2017 – New York Times
HNA Group, a secretive Chinese conglomerate with ties to the Communist Party in Beijing, has emerged as a major global deal maker.
But what, exactly, is HNA Group? Here is a rundown.
The company was founded in China in 1993 as Hainan Airlines, in the southern island province of Hainan, with help from the local provincial government.
It has since expanded considerably into several industries, and now has more than $90 billion in assets.
HNA has been on an acquisition streak in recent years, broadening beyond airlines to invest in tourism, logistics and financial services.
Since the beginning of 2016, it has struck deals to acquire Ingram Micro; a quarter of Hilton Worldwide Holdings, the hotel company; Carlson Hotels, owner of the Radisson and Country Inns & Suites chains; Gategroup, a Swiss airline catering business; and about a quarter of the American investment arm of the British-South African insurer Old Mutual.
HNA is not a state-owned enterprise in the way that China’s banks, airlines, telecommunication companies and other pillars of the economy are. But its political pedigree runs deep.
For more than a decade, HNA’s chairman, Chen Feng, has been a member of the National Congress of the Chinese Communist Party, a group of more than 2,000 that meets every five years to help determine party leadership.
HNA’s ownership is murky — one major shareholder lists his address as a shabby apartment building in Beijing.