|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||6.62 - 6.64|
|52 Week Range||6.62 - 6.64|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
HNA Technology Co Ltd, part of Chinese conglomerate HNA Group, said on Wednesday it scrapped a plan to acquire Chinese company Dangdang's e-commerce assets as transaction parties failed to reach agreement. The ditch of the acquisition plan marks the latest blow to HNA Group which lately has done a series of divestments to slash debt at the aviation-to-financial services group. HNA Technology, previously known as Tianjin Tianhai Investment, said in April it planned to take full control of e-commerce platform Dangdang.com for $1.2 billion.
China's HNA Group Co Ltd is in talks to buy a controlling stake in E-commerce China Dangdang Inc in a deal that could value the online marketplace at over $1 billion, two people with direct knowledge of the matter told Reuters. Dangdang, an Amazon Inc rival in China, is also in talks with other potential investors, said the people, who declined to be identified as the matter was private. Dangdang told Reuters it has been approached by investors and has not accepted any offer.