HNA of China, in Need of Money, Raises Funds From Employees
- 6 years ago
HNA of China, in Need of Money, Raises Funds From Employees
Mr. Clare, the attorney for HNA, said, "Absent specific evidence
that Jubaohui was actually late in making a required payment, there is no basis for any such statement or speculation." As HNA has faced more questions about its operations by both the local and foreign media, the company has issued groupwide emails urging employees to not speak to reporters.
The company has long offered such investments to its employees as a way to incentivize them
and to share in the company’s success, Thomas A. Clare, an attorney for HNA, said in an email.
It was one of many pitches by HNA Group, a Chinese conglomerate struggling under an estimated $90 billion in debt accumulated during a global shopping spree
that included buying stakes in multinationals like Hilton Hotels and Deutsche Bank.
In an email dated Jan. 4, one HNA unit told employees that it needed nearly $8 million to fund a duty free business.
" said one sent on Jan. 15, for an investment tied to HNA’s Qianhai Air and Shipping Exchange arm. that Your year-end bonus is here,
One week later, HNA’s media and entertainment arm said it was looking to raise nearly $80
million from employees, pledging strong returns and a plan to build up the business.
Mr. Clare, the attorney for HNA, said, "Absent specific evidence
that Jubaohui was actually late in making a required payment, there is no basis for any such statement or speculation." As HNA has faced more questions about its operations by both the local and foreign media, the company has issued groupwide emails urging employees to not speak to reporters.
The company has long offered such investments to its employees as a way to incentivize them
and to share in the company’s success, Thomas A. Clare, an attorney for HNA, said in an email.
It was one of many pitches by HNA Group, a Chinese conglomerate struggling under an estimated $90 billion in debt accumulated during a global shopping spree
that included buying stakes in multinationals like Hilton Hotels and Deutsche Bank.
In an email dated Jan. 4, one HNA unit told employees that it needed nearly $8 million to fund a duty free business.
" said one sent on Jan. 15, for an investment tied to HNA’s Qianhai Air and Shipping Exchange arm. that Your year-end bonus is here,
One week later, HNA’s media and entertainment arm said it was looking to raise nearly $80
million from employees, pledging strong returns and a plan to build up the business.