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Chen Feng is the co-founder of HNA Group and Hainan Airlines, a conglomerate that expanded into various sectors and acquired stakes in Deutsche Bank and other companies. He was detained in 2021 for suspected crimes and HNA Group was broken into four components due to a bankruptcy court order.
Sep 24, 2021 · The bankrupt Chinese conglomerate, which is under state control, said chair Chen Feng and chief executive Adam Tan were taken into custody on Friday over suspected crimes, without providing...
- Critical Industries
- Collar Strategy
- Too Fast
- Sitting Buddha
Chen and his group were among the myriad of billionaires and business empires spawned in China’s decades of liberalization since the death of Mao Zedong. While the state often dangled favorable policies and used companies to advance the country’s foothold in critical industries, the Communist Party remains leery of the power wielded by business and...
HNA’s ambitions to go beyond aviation — and the confines of China — began in 2007, when it bought SA Sode Hotel in Belgium, one of its first overseas assets. More deals followed, including the investment in Deutsche Bank AG that made it the German lender’s biggest shareholder at the time. The stake deployed a “collar” strategy popular with leverage...
“HNA was expanding faster than the expertise of the management,” said Warut Promboon, managing partner at Hong Kong-based credit research firm Bondcritic Ltd. “The government used HNA to expand the influence of China, but it had to go hand in hand with the health of the company.” The turmoil deepened in July 2018, when Wang died while vacationing i...
With Chen now in police custody with Tan — a U.S. citizen, according to filings to the Securities and Exchange Commission — HNA is firmly in government hands. Its Hainan headquarters, whose famous shape is often compared to a sitting Buddha by the local media, is now thronged by officials, who negotiated the sale of stakes in its airline and airpor...
Sep 27, 2021 · HNA Group Chairman Chen Feng and CEO Tan Xiangdong have been detained by Chinese police, according to the company. In a brief statement on Friday, the embattled conglomerate said that the two...
Jun 2, 2017 · Founder and public face Chen Feng — a Buddhist with a taste for luxury cars — and the chairman of the board, Wang Jian, own about 15 per cent each after many years of complex asset reshuffles...
Sep 24, 2021 · Embattled Chinese conglomerate HNA Group said Friday that its chairman Chen Feng and Chief Executive Adam Tan are suspected of committing crimes and have been detained.
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Who is Chen Feng & Tan Xiangdong?
Who is Chen Feng?
Who are Chen Feng & Adam Tan?
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Sep 24, 2021 · Chen, 68, became HNA's sole chairman in 2018 when his co-founder and then co-chairman Wang Jian died in France in what local police said appeared to be an accidental fall...
