China's HNA Group to buy 25 percent stake in HiltonStaff Writer | October 24, 2016
Chinese aviation and shipping HNA Group said it would buy a stake of about 25 percent in hotel operator and manager Hilton Worldwide Holdings from biggest shareholder Blackstone Group for $6.5 billion.
Acquisition $26.25 per Hilton share
Blackstone's holding in Hilton will be reduced to 21 percent after the deal closes in the first quarter of 2017, the companies said.
Hilton Worldwide's brands include Conrad Hotels & Resorts, Curio and Double Tree as well as Hilton. ■