The Paper, 3/07/17
Hainan Airlines Group's (900945.SH) investment firm HNA Capital Group has acquired an 80% stake in Beijing-based Lianban Cultural Media Company, operator of business news site Caijing.com, according to information from China's national company registry. The deal received approval from regulators on December 12, 2016.
Lianban Wenhua Chuanmei's 68.2% stake in Lianban Cultural Media Company will shrink to 10.91% once the transaction is complete. Yingda Chuanmei Investment Group, a subsidiary of the State Grid Corporation of China, will preserve its 9.09% stake, while Beijing Ronglian will completely surrender its original 22.7% stake.