Chinese conglomerate HNA Group (HNAIRC.UL) has put up for sale property assets worth at least $11 billion, according to documents, accelerating a push to cut its large debt and restructure, Reuters reports.
Two sets of documents reviewed listed more than 80 assets that HNA has either put up for sale or intends to sell, including hotels, commercial and residential buildings. They are mostly within China, with the bulk of them located in Hainan Island, where HNA is headquartered.
The documents were sent to prospective investors in August, said sources.