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Understanding How China’s HNA Group Rose and Fell

Sept. 27, 2021, 2:29 a.m.

(The Washington Post) China’s HNA Group Co. shot to prominence by spending more than $40 billion on acquisitions across six continents from 2016. But the breathtaking buying spree drew questions from regulators about the group’s opaque ownership structure and its struggle to manage spiraling debt. That prompted an equally dramatic selling spree, and Chinese authorities eventually took effective control. Now, HNA is undergoing an aggressive debt restructuring that will see its original shareholders exit the picture. A

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