HNA’s woes mount as three listed units disclose embezzlements of nearly US$10 billion by shareholders

//HNA’s woes mount as three listed units disclose embezzlements of nearly US$10 billion by shareholders

HNA’s woes mount as three listed units disclose embezzlements of nearly US$10 billion by shareholders

Three units of HNA, once China’s most acquisitive conglomerate, said nearly US$10 billion had been embezzled by shareholders, in disclosures to stock exchanges that come amid a government-led investigation into the deeply indebted group.A total of 61.5 billion yuan (US$9.6 billion) had been embezzled by shareholders and other related parties, Shanghai-listed Hainan Airlines Holding, HNA Infrastructure Investment Group and Shenzhen-listed CCOOP Group said late on Friday.The identities of the…

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By | 2021-01-31T10:21:39+00:00 January 31st, 2021|Business|Comments Off on HNA’s woes mount as three listed units disclose embezzlements of nearly US$10 billion by shareholders