HNA accused of wrongdoing in Swiss deal

Updated 2017-11-28 09:31:56 Global Times

Chinese conglomerate HNA Group has been accused of providing "untrue or incomplete" information during the takeover of Gategroup by the Swiss Takeover Board, according to Reuters on Sunday.

The accusation involved the ownership structure of HNA Group, which said in May 2016 that two of its shareholders - Bharat Bhise and Guan Juan - held stakes of 17.4 percent and 12.35 percent, respectively. The Swiss Takeover Board said they should be shown as 17.15 percent and 12.01 percent, respectively, according to Reuters.

HNA responded by saying it had given all necessary information regarding the deal and that the deal would not be affected, Reuters reported.

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