HNA surpasses £32.bn in new acquisitions

China HNA Group, headquartered in Haikou, Hainan, China, a large tourism and domestic airline operator chaired by Chen Feng,  has struck £32.4bn ($40bn) of deals in the last two years announcing plans to buy Singapore logistics provider CWT for $1bn. CWT provides warehousing and logistics services to the commodities industry. With the acquisition of CWT, HNA’s assets span hotels, tourism, airlines, real estate, logistics and financial services.

HNA’s deal making abroad continued on upwards despite the clampdown on the flow of capital out of China since November 2016.

The group’s largest deal was the £ 81.bn ($10bn) acquisition of CIT Group’s aircraft leasing business, a £ 5.27bn ($6.5bn) purchase of 25 percent stake in hotels group Hilton Worldwide and a £4.9bn ($6bn) deal of US electronics distributor Ingram Micro.