HNA Group has agreed to purchase a 25% ownership stake in Hilton for $6.5B with an anticipated close date in early 2017. The company acquired 100% of Carlson Hotels earlier this year and also runs airlines, airports, and hotels in Asia. The stake will come from private equity firm Blackstone and both companies will hold board seats.
HNA has been aggressively acquiring assets outside of China including Swiss catering company Gategroup and aircraft leasing agent CIT group. The company owns or has stakes in numerous airlines including Hainan.