Chinese conglomerate to sell a stake in Hilton Worldwide

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Chinese conglomerate to sell a stake in Hilton Worldwide
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HNA Group Co., a Chinese multipurpose conglomerate, keeps on disposing of foreign assets and has announced its intention to sell part or all of the stake in Hilton Worldwide which owns a network of Hilton hotels.




The share of HNA in Hilton amounts to 26.1%, with its market value being about $6.3 billion, The Wall Street Journal reports. If the stake is sold at a current market price, HNA will get a return on investment in the amount of about $2 billion.

The share of Hilton is expected to be sold as part of one or more public placements of shares, the timing of which will depend on market conditions and other factors, the HNA statement says.



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