DANG - E-Commerce China Dangdang Inc.

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  • Reuters3 months ago

    HNA Technology ditches plan to buy e-commerce group Dangdang

    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.

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