Hainan Airlines announced the sale of 6 billion US dollars overseas properties

The Hainan Airlines Group (to be renamed CWT International), which has been aggressive overseas in acquisitions, has been planning to sell off some of its overseas assets.

HNA: temporary sale of Manhattan office space

The Wall Street Journal quoted news reports that the group intends to sell 20 overseas commercial properties worth a total of 6 billion U.S. dollars, including the first-class offices in Manhattan, New York, Canary Wharf in San Francisco, French Polynesia Resort and Australia Building and other properties.

In response to a query from a spokesman for HNA Group, the 1180 office building in Manhattan, New York, USA, is the real estate project currently announced for sale. The Group is a rational investor. Based on the market factors, there are buying and selling, the value of specific projects and assets, The message is not announced.

It is understood that the report mentioned in San Francisco, “123 Mission Street”, Minneapolis “City Center skycraper”, New York City, “Building 850” and Kai Tak land in Hong Kong, are not intended to be sold.

Quoting Real Capital Analytics, the Wall Street Journal said the Group owns about $ 14 billion worth of commercial properties globally. Selling $ 6 billion in assets means that overseas properties sold by HNA make up more than 40% of the Group’s commercial real estate value.

Chinese-funded subsidiaries to check the loan situation

According to the report, HNA previously estimated its liabilities exceeded 100 billion yuan and about one quarter of its debts expired within one year. Chief Executive Tan Xiangdong earlier said in Beijing that Hainan Airlines will respond to national policies and adjust the pace of overseas investment and mergers and acquisitions.

Another banking source disclosed to the newspaper that several large Chinese-funded head offices and parent companies recently re-checked the branches and affiliates of Hainan Airlines, Wanda and Anbang to find out about the latest outstanding loans The change in the balance and the total amount of credit facilities is the same as that of the relevant enterprises since the middle of this year. This material is expected to guide the industry window, indirect signs overseas branches or affiliates, extremely cautious on the new loan-related businesses.