HNA Group is selling a property project in Shanghai to Chinese developer Fujian Group for RMB2.9 billion (US$456 million) to shore up its balance sheet, according to a security filing issued today by HNA Capital, the financial services arm of HNA. The deal, which includes equity and assumption of debt, marks debt-laden HNA’s latest unwinding effort to reduce debts. Just ast month, it disclosed its intentions to offload its US$6.3 billion stake in Hilton Worldwide Holdings Inc. and  all of its 25% stake …

HNA Group To Sell Shanghai Property Project For $456M appeared first on China Money Network.