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China's HNA buys NZ lender UDC

Friday, January 13, 2017 - 05:50

Sydney

HNA Group, one of China's most acquisitive conglomerates, said it would extend its reach to New Zealand with the US$460 million purchase of asset finance firm UDC, prompting an immediate credit rating downgrade for the nation's biggest non-bank lender.

HNA, best known as the

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