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HNA to Combine $4 Billion Property Unit With Its Listed Builder

By Tony Seruga

CHINA HAINAN ECONOMY

Luxury residential buildings in Sanya.

Photographer: Brent Lewin/Bloomberg

Controller buys 24 billion yuan of shares as part of deal
Sale at 34% discount to last price before June suspension

The parent of Hainan Island Construction Co. plans to combine a property unit with its listed developer in a transaction valued at 26 billion yuan ($4.1 billion).

Hainan Island will buy the unit with 2 billion yuan in cash, with the remaining 24 billion yuan coming from a share sale to a unit of its controlling holder, HNA Industrial Holding Co., according to a Sunday filing to the Shanghai stock exchange. HNA Industrial is an infrastructure-investment vehicle of aviation operator HNA Group…

HNA to Combine $4 Billion Property Unit With Its Listed Builder

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