After US$50b of deals, HNA moves to clear ownership issues
It sets up a new charitable foundation to act as single biggest stakeholder
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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.
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