Chinese conglomerate HNA says chief executive and chair arrested by police


Source: worldnewsera.com worldnewsera.com

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HNA Group Co Ltd updates Sign up to myFT Daily Digest to be the first to know about HNA Group Co Ltd news. Chinese police have detained the two remaining co-founders of HNA in the latest twist in the collapse of China’s hitherto most acquisitive group. The bankrupt Chinese conglomerate, which is under state control, said chair Chen Feng and chief executive Adam Tan were taken into custody on Friday over suspected crimes, without providing details of the alleged offences. The arrests return to the spotlight one of China’s most tumultuous corporate sagas. The move by Chinese officials comes three...