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HNA Group is in talks to purchase a stake in Hong Kong fund house Value Partners, reported Bloomberg. A transaction could value the company, one of Asia’s largest independent asset managers by market capitalization, at more than USD 2 billion. The talks are ongoing and they haven’t entered into a definitive agreement. The two men own a combined 41% of the company’s issued shares, Value Partners said in the statement.
HNA agreed to buy 25% of Old Mutual Plc’s U.S. asset management arm in March as the acquisitive aviation-to-hotels group pushes forward with a buying spree across the financial services industry. It reached a deal in January for a USD 200 million stake in U.S. funds firm Skybridge Capital and purchased control of Austrian asset manager C-Quadrat Investment this month. HNA has struck deals from Australia to Switzerland in the past two years as it expands its empire beyond aviation and hotels. Read original article |
