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HNA Group signs partnerships with JLL, Cushman & Wakefield

HNA Group Co. Ltd.'s HNA Group (International) Company Ltd signed cooperation deals with global real estate services firms Jones Lang LaSalle Inc. and Cushman & Wakefield.

JLL will serve as HNA's strategic partner in its global portfolio in what the Chinese conglomerate expects to be a long-term partnership. Cushman & Wakefield will provide long-term integrated services for HNA's local and overseas real estate portfolio.

HNA is reportedly looking to sell 100 billion yuan of assets within the first half of 2018 as it looks to reduce its debt to improve liquidity and was recently said to be considering a full or partial sale of its 25% stake in Hilton Grand Vacations Inc. An HNA unit recently completed the sale of its stake in Park Hotels & Resorts Inc., while another HNA unit is looking to sell its property and logistics units in China's Hainan resort island for roughly 1.93 billion yuan to Sunac China Holdings Ltd.

As of March 12, US$1 was equivalent to 6.33 yuan.