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China's HNA to sell 25 percent stake in Hilton Grand Vacations


(Reuters) - Chinese conglomerate HNA Group will sell its 25 percent stake in Hilton Grand Vacations Inc , the timeshare business spun off last year from U.S. hotel chain Hilton Worldwide , Hilton Grand said on Tuesday.The sale is the latest attempt by HNA, an aviation-to-financial services conglomerate, to restructure its far-flung operations and raise cash by selling equity and prime real estate assets.Its restructuring drive also follows a $50 billion acquisition spree over the past two years, which has sparked scrutiny of its opaque ownership and use of leverage.HNA's Kenneth Wong has ...

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First Published: Wed, March 14 2018. 02:45 IST