HNA Unloads Shares of South African Airline as Selloff Continues
(Bloomberg) -- HNA Group Co. sold all its shares in South African airline Comair Ltd., the latest disposal by the debt-laden Chinese conglomerate.
Comair disclosed the sale in an exchange filing on Thursday, though the statement didn’t provide details about when the shares changed hands and at what price. HNA had held 29 million shares, or 6.2 percent of Comair, before the disposal, according to data compiled by Bloomberg. That stake would be valued at about $14 million based on current market prices.
Comair first disclosed to investors about HNA’s ownership in 2015.
HNA has sold more than $13 billion of assets this year after the company’s debts bloated to $94 billion, prompting the group to spend more on interest than any nonfinancial company in Asia last year.
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