HNA collapses because of a strong spending strategy to acquire businesses around the globe. The Group filed a bankruptcy before the year. Chairman and executives were also arrested. According to Bloomberg, in the Yellow period less than 10 years ago, it seemed that he could stop Mr. Tran Phong in the mission to conquer the world
. HNA Group Co. - HNA Group Co. - As a pioneering enterprise in the wave of purchasing and merging from the US to Europe
That point, the acquisition wave of Chinese businesses is to testify for their appearance in the international arena. Mr. Tran was warmly welcomed Wall Street. He was also close to Chinese President and former British Prime Minister David Cameron. But everything collapsed after the huge debt mountain. Covid-19 pandemic is HNA's death bell. Affiliates and tourism activities of the Group are paralyzed. They filed bankruptcy in January 2021 and are in the process of restructuring under the supervision of the Hainan Island Government, where HNA is located. Wide 24/9, HNA said President Tran Phong and the Director Operating east-way talks have been arrested by police because of suspects "implementing illegal acts". President HNA Group Co
Tran Phong. Photo: Bloomberg. The giant debt bag will take place in the Peking context tighten the control over these businesses. China Evergrande - another major debt corporation - also faces the risk of collapse. Global investors ask questions that Beijing comes into a break to prevent a crash or his ceiling and his corporation is one of the countless billionaires, the business empire emerges for decades. Open Chinese. Beijing often offers beneficial policies. The success of enterprises contributing to improving China's positions in important industries. However, the Chinese government is still worried about too big power of Chinese private enterprises and the threat Potential threatening to the financial system. That caution has led to a suppression of large private corporations such as Alibaba Group Holding Ltd., Didi Global Inc. And other companies. The Chinese technology giants become government targets due to the large amount of data they hold. But HNA fell into a sight for another reason. Beside the leadership of Mr. Tran and Mr. Vuong Trien - co-founder HNA, the Group has taken advantage of China's easing credit in 2010, borrowing massively to carry out a series of acquisitions in foreign countries. Concessions, co-founder HNA. Photo: AFP. The deals worth more than 40 billion USD including most shares in Deutsche Bank AG, Hilton Worldwide Holdings Inc., luxurious real estate such as golf course, famous hotels on 6 continents and buildings Heaven 245 Park Avenue in Manhattan. The patent has entered after noticing the risk of using capital and high leverage. Anbang Insurance Group - Owner Waldorf Hotel Astoria in New York - was nationalized in 2018. The problems of HNA also gradually given light. The Group must sell assets when debts must be excellent. Currently, HNA needs to pay at least $ 63 billion for creditors. "Mr. Tran and many other entrepreneurs used their relationships to borrow innocent", Professor Victor Shih at California University San Diego Comments . "This group uses leverage to buy massive assets abroad. It is a unsustainable way," he said. The debt is the foundation for the ambition of both Mr. Tran and Mr. Vuong. Both set goals to bring HNA into one of Fortune 500's leading companies. The extensive extension, mainly from the debt loan, bringing HNA to the 170th Treatment for Fortune's rankings in 2017 . But only a few months later, the fate of the Group changed. The total debt of HNA increased to more than 93 billion USD. The series of troubled with the College of Air Transport Management Lufthansa (Germany), Mr. Tran used to work at the Chinese Civil Aviation Administration and the National Aviation Regulatory Department family. Around 1990, he helped established Hainan Airlines Holding Co. - Later became HNA's leading company. In the early days, Billionaire George Soros was HNA investor. It is an unusual thing for a small area airlines, worth about 10 million yuan (1.5 million USD) and is poured by the government. The Tran quickly became the focal point of the business community. Young young in China. He built a dynamic and accessible image in interviews. In 2007, HNA began ambitions beyond the air and China. They bought Sa Sode Hotel (Belgium), one of the first foreign assets. Next is many other deals, including investments in Deutsche Bank AG. At that time, HNA was the largest shareholder of the German bank. Great share of HNA in foreign enterprises purchased through derivative contracts, called the right to sell. Giant debt. In an interview with the Chinese Central Television in 2004, he leveraged as lice. "When too n . Dịch vụ:
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