BEIJING (Reuters) - China's HNA Group Co said some 67,400 creditors are seeking a total of 1.2 trillion yuan ($187 billion), according to a person who.
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China’s HNA eyes private investors to help it emerge from bankruptcy
The HNA Group Co. building stands in Beijing, China, on Wednesday, Aug. 9, 2017. Photographer: Qilai Shen/Bloomberg via Getty Images
February 1, 2021
China‘s embattled HNA Group is looking for private investors to help it emerge from bankruptcy, a person with knowledge of the matter said, but bankers and analysts say restructuring may be challenging due to its debt pile and opaque corporate structure.
The creditors’ move to file for bankruptcy came after HNA was put under a restructuring exercise led by the Hainan government to resolve its liquidity risks stemming from years of aggressive acquisitions abroad.
China's embattled HNA Group is looking for private investors to help it emerge from bankruptcy, a person with knowledge of the matter said, but bankers and analysts say restructuring may be challenging due to its debt pile and opaque corporate structure.