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China's HNA sells off $2bn of land

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China's cash-strapped HNA has agreed to sell off two land parcels in Hong Kong worth 15.96bn Hong Kong dollars ($2.04bn; £1.47bn) to developer Henderson Land.

The airline-to-finance behemoth has been looking to sell off assets, or raise financing against them, in an attempt to replenish its coffers.

Last week, the conglomerate cut its stake in Deutsche Bank, and in January it sold off an Australian office block to the US Blackstone group for $166m.

The sale of the two land parcels, located at Hong Kong's former Kai Tak airport site, is expected to go through on 14 February.

HNA bought the land in 2016.