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在线翻译:
szdaily -> Markets
HNA committed to disclosures on shareholding changes
    2017-September-11  08:53    Shenzhen Daily

HNA Group Co. is committed to disclosures on future changes of its shareholding structure, the head of the conglomerate’s international unit said Friday.

HNA has been in the spotlight together with other Chinese conglomerates for the billions of dollars they have splashed on marquee real estate properties and global brands, as China cracks downs on what it deems excessive deals.

The privately-owned group, which has entered into US$50 billion in deals over the last two years, however, doesn’t expect any changes to its shareholding structure in the near future, said Wang Shuang, the group’s chief investment officer and chief executive of its international unit.

“If you are a private company, basically you do not need to disclose who is your shareholder. But since HNA is already a global conglomerate, our partners and investors, they are curious about who’s controlling HNA Group,” he told a conference in Hong Kong.

The sprawling conglomerate in late July announced a shareholding shake-up, saying a new New York-based charitable foundation would act as its single-biggest stakeholder with a 29.5 percent stake, in a bid to quash concerns over its ownership.

“The reason why HNA Group tries to be transparent is because we have nothing to hide,” said Wang, adding the group will disclose such ownership changes on a regular basis.

However, HNA did not provide details at the time of how the shares were placed in the new charity’s hands, how the overall foundation would be run or how it would vote or use its shares.

HNA will continue to look for potential targets that could create value for the group, Wang added.

The HNA executive said the conglomerate looks at many different companies before making an acquisition, with the success rate of deals at only 5 percent of what it examines. (SD-Agencies)

 

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