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China's HNA Group to buy 25 percent stake in Hilton

Staff 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.
Hilton Worldwide
Acquisition   $26.25 per Hilton share
HNA will buy the stake for $26.25 per share, representing a premium of 14.6 percent to Hilton's closing price on Friday and valuing the hotel company at about $26 billion.

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.