HNA Group, a regional airline based in Hainan Island turned global company with over US$90 billion in assets, will acquire around 25% equity interest in Hilton Worldwide Holdings Inc from affiliates of Blackstone. HNA groups is a long-term investor and strategic partner in this transaction.
The transaction is valued at around US$6.5 billion or US$26.25 per share in cash. Blackstone’s interest in Hilton reduces to around 21%. The transaction is expected to close on Q1 2017.
HNA will own approximately 25% of Hilton spinoffs of Park and Hilton Grand Vacations which are expected to happens end of this year.
