HNA ACQUIRES 25% STAKE IN HILTON

Chinese conglomerate HNA Group is to acquire an equity interest in Hilton Worldwide of approximately 25% from affiliates of American group Blackstone. The transaction, which is reported to have a cash value of around US$6.5 billion (US$26.25 per share), is expected to close during the first quarter of 2017 and will see Blackstone’s share in Hilton drop to 21%.

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