HNA Group Co., the airline-to-bank-to-hotel conglomerate that’s been selling billions of dollars in assets this year, said Wednesday that Co-Chairman Wang Jian died after an accident on Tuesday.
Here’s what observers say.
Warut Promboon, managing partner at credit research firm Bondcritic Ltd.:
“If this is a company with proven corporate governance, we won’t have to worry. But HNA is a company that relies on personal connections, especially with Chinese banks and Chinese government officials. The selloff in bonds clearly indicates the nervousness among investors that this company’s powerful connections may weaken.”
Read more at: https://www.bloomberg.com/news/articles/2018-07-04/what-hna-followers-say-about-sudden-death-of-co-chairman-wang