Behind the Rise of China’s HNA: The Chairman’s Brother
Supported by Business Day Behind the Rise of China’s HNA: The Chairman’s Brother 查看简体中文版 查看繁體中文版 Photo Credit Jun Cen When a former Microsoft executive decided to sell his collection of eight golf properties in Washington State, a small Chinese company started quietly negotiating for them.
The company, West Coast Golf, said it was working on behalf of wealthy Chinese investors, including a Hong Kong company. Then the talks stalled.
A year later, a big Chinese conglomerate, HNA Group, suddenly swooped in and agreed to pay $137 million to buy the properties from the former tech executive’s company, Oki Golf.
The two Chinese companies had an important connection: The head of West Coast Golf, Wang Wei, is the younger brother of HNA’s longtime co-chairman, Wang Jian.
Continue reading the main story The activities of Wang Wei have been central to HNA’s transformation from a small regional airline to a vast global conglomerate, one with nearly $100 billion in revenue and stakes in Deuts..