HNA chairman Wang Jian died falling off wall in France

Wang Jian was chairman of the HNA Group which amassed $230 billion in assets across its aviation tourism and finance businessesMore

The 57-year-old businessman was considered a driving force of the group that is worth more than $203 billion in assets.

HNA Group, headquartered in Haikou, Hainan, was founded in 2000.

In a mark of respect, the official website suddenly became black and white, a sign of mourning in the world's second-largest economy.

The statement said the company extends its deepest condolences to Mr. Wang's family and friends.

In April, HNA disclosed plans to sell at least some of its more than $6.5 billion stake in hotel operator Hilton Worldwide Holdings Inc., according to a US regulatory filing.

The owner and co-founder of giant China's HNA group died today by falling from a high parapet in southern France, while he was on a tour. "He had been under great pressure recently".

However, the company's expansion was derailed by the Chinese government's decision to curb overseas investment by private conglomerates on order to cut financial risks.

Graceful but lethal 'Wasp' joins Marvel forces in new film adventure
LEGO Marvel Super Heroes 2 The Ant-Man and the Wasp character and level pack are available now on PlayStation 4, Xbox One and PC. I want people to leave Star Wars alone! I feel like it's just tainting something that's precious.

HNA appeared in danger of slipping into that category.

HNA is best known as the owner of Hainan Airlines Co and for holding stakes in Deutsche Bank AG and Hilton Worldwide Holdings Inc. HNA's latest annual report showed the group had more than $90 billion in debt. But during the past few years, the company has been trying to level a debt mountain, which could be at least $90 billion as it battles to rebalance the books.

However, the company's ownership structure has always been complex and murky. "The removal of senior management will likely be a condition of any explicit or implicit bailout".

Wang was instrumental during HNA's era of empire-building and its subsequent dismantlement.

He obtained an undergraduate degree in Aviation Management from Civil Aviation University of China in 1983, and a master's degree in business administration from Holland Maastricht School of Management in 1995. HNA's financial struggles began to emerge in the middle of a year ago, when its interim report showed the conglomerate paid the highest interest expense among non-financial companies in Asia. Currently, the total assets of the conglomerate is estimated at 600 billion yuan (88,55 billion), and the number of employees totals 180 thousand people.

The conglomerate this week pulled out of a $400 million deal to buy Automotive Holdings Group's refrigerated logistics business after eight months of negotiations. Wang fell from the wall in Bonnieux whilst having his picture taken.

Related News:



Most liked

Pakistan court gives 10-year jail to Sharif in 1st corruption case
He claimed that this was the first time in the country's history that the powerful have been held accountable. An accountability court jailed Nawaz Sharif for 10 years over his family's purchase of upscale London flats.

Poachers eaten by lions on South Africa game reserve
Nine rhinos were killed by poachers in Eastern Cape province, where the reserve is located, this year alone. Before the remains could be recovered, six of the lions had to be tranquilized, according to Fox.

Putin, Trump to discuss 'complex' issues, including Syria
Bolton simply said tat a "direct conversation " between the two leaders is an important starting point. President Donald Trump are scheduled to hold their first one-on-one summit in Helsinki on July 16.

Bruce McArthur case lead detective to provide update on new search effort
The home had previously been turned back over to its owners after a lengthy search that stretched through the winter months. Idsinga said that the search will continue into at least next week but could continue past that depending on what is found.

Video of France President blowing pidgin is exciting Nigerians
The Super Eagles finished as the third best team in Group D after conceding a 2-1 loss to Argentina in their final group game. It also doesn't hurt that Macron interned at the French Embassy in Lagos, 15 years ago .

‘Families Belong Together' Rally: Thousands protest family separations at border across country
In the U.S. , time is rapidly running out before a court deadline which ordered the reuniting of families of illegal immigrants. What's happening at the U.S. -Mexico border, children being separated from their parents has fueled frustration.

First Confirmed Picture Of The Newly Born Planet
The planet PDS 70b sits about 1.86 billion miles away from its host star, roughly as far as Uranus is from our sun. A newly born planet, which was being formed in our Milky Way, was captured using a planet hunting instrument .

Georgia starting QB Jake Fromm breaks his hand
Fromm helped lead Georgia to the College Football Playoff National Championship, where Georgia lost 26-23 to Alabama in overtime. Fromm, who earlier this offseason suffered a leg injury due to a freak fishing accident, has done something similar to his hand.

Wenger Tips France, Brazil, England To Win World Cup
Local times are BST +2 apart from games played in Kaliningrad (+1), Samara (+3) and Ekaterinburg (+4). Other top players for Uruguay are Luis Suarez of Barcelona and Diego Godin of Atletico Madrid.

Verify: Is July 4th really independence day?
Later, on July 2, 1776, the Continental Congress voted in favour of getting independence from the rule of Great Britain. One last interesting fact, two of the most well known names on that document are Thomas Jefferson and John Adams .

Love Island 2018 | Episode 32 Preview
But no more. " Love Island " viewers are growing more and more frustrated with Alex and think it might be time to call it a day. Singletons Wes and Georgia are immune from the vote, and we can guess that Jack Fincham and Dani Dyer are pretty safe too.

House of Cards Fourth of July Season 6 Teaser
After his firing, the writers made changes to write Spacey out of the show, and make Wright the star of the season. Spacey will not be returning for the sixth season after allegations of sexual misconduct surfaced in late October.

Greenpeace activists fly ‘Superman’ drone in to French nuclear site
France generates about 75 percent of its electricity from nuclear power in 19 nuclear sites operated by the state-controlled EDF. EDF said the spent-fuel pool buildings were robust and created to withstand natural disasters and accidents.

Brexit: Government draws up third customs union model
In the hope a truce can be agreed between her feuding ministers, the strategy will be set out in a white paper the following week. Their "max fac" alternative would, rather than scrapping customs checks, use technology to minimise the need for them.

Protester climbs Statue of Liberty base, forcing evacuation
Okoumou was born and educated in the Democratic Republic of Congo before she moved to NY a decade ago. NY police said three emergency units and a harbor unit were dispatched to apprehend the protester.