HNA agrees to sell Radisson to Jin Jiang-led consortium

The HNA Group is selling Radisson Holdings to a consortium led by China’s state-owned Jin Jiang International.

Reports had earlier named Jin Jiang International a potential bidder in the sale by the cash-strapped HNA Group.

As part of the deal, the consortium will buy 51.15 per cent of Radisson AB from Radisson Hospitality, according to a statement from Radisson Hospitality. Bloomberg estimates the total purchase to amount to three billion Swedish crowns (US$332 million), valued at 35 Swedish crowns per share.

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