China’s HNA Keeps Striking Foreign Deals as Banks Wince and Investors Flee
A lawsuit filed last week in a New York state court by Ness Technologies, a company
that HNA tried to acquire, accused the Chinese company of dooming the deal by not trying hard enough to address questions from officials at the Committee on Foreign Investment in the United States, a group that scrutinizes foreign purchases of domestic companies.
HNA said late Wednesday that it had talked to eight Chinese banks, including powerful
and politically connected lenders like China Development Bank and China Construction Bank, about extending the conglomerate’s credit lines next year.
Guang Yang, the chief executive of HNA Capital, the subsidiary
that has agreed to buy SkyBridge, said the firm was "committed to closing the transaction with SkyBridge as soon as possible." In Germany, HNA proposed acquisition of shares in Deutsche Bank, a major global lender, has drawn questions.
Bank officials believe "HNA is the best-quality client of banks," according to a statement posted on HNA’s website.
The European Central Bank is considering opening an inquiry into whether HNA is a qualified owner of its 10 percent stake
in Deutsche Bank, according to a person with knowledge of the procedure who was not authorized to discuss it publicly.