Whisper it quietly, but there's some good news on the way for shareholders in one of HNA Group's Hong Kong subsidiaries.
HNA, a regional airline-turned-global conglomerate, has become a watchword for all that is wrong in corporate China, building up huge leverage amid a $50 billion international acquisition spree since 2015.
It has been divesting many of the assets it bought, including three of four developments sites at Hong Kong's former Kai Tak airport, for which it paid record prices. Now, HNA is giving something back to shareholders of the subsidiary that owned the development sites.
In a statement to the Hong...
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