HNA Group, the ultra-acquisitive Chinese conglomerate, has transferred ownership of a near 30 per cent stake in the business away from a mysterious Chinese shareholder to a newly formed foundation in the US.
The disclosure came as part of the first detailed breakdown of privately held HNA’s ownership structure after a period of intense scrutiny of the company, which has garnered attention for an aggressive overseas $40bn deal spree in the past three years.
In a statement, HNA said that a non-profit organisation called the Hainan Cihang Charity Foundation now owned 29.5 per cent of the company — a stake that was until recently held by Guan Jun, who acquired the position last year from Hong Kong-based businessman Bharat Bhise.
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