HNA chief’s death to delay airline share sale

Bloomberg

Hong Kong Airlines’ plans to sell almost a third of its stock has been held up after the sudden death of a top executive at HNA Group Co., one of the carrier’s biggest shareholders, according to a person familiar with the matter.
The death of HNA co-Chairman Wang Jian from an accident in France in early July has halted advanced discussions between the closely held airline and potential investors to sell as much as a 30 percent stake for $250 million to $300 million, the person said, asking not to be identified discussing a private matter.
Wang was also involved in the negotiations because the sale would dilute the Chinese conglomerate’s stake in the airline, according to the person.