After US$50b of deals, HNA moves to clear ownership issues

London

CHINESE conglomerate HNA Group has pushed back against media reports that it faces mounting pressure from bankers and regulators, even as it announced a shareholding shake-up in a bid to quash concerns over its ownership.

The privately owned group, which has entered into US$50 billion of deals over the last two years, buying stakes in logistics firms, hotels and even Deutsche Bank, said on Monday that it has set up a new charitable foundation to act as its single biggest stakeholder.