The cancellation of the acquisition stake by HNA in US-based Global Eagle Entertainment comes at the same time, when China’s government is increasingly scrutinising banking relationships and aggressive deal-making of some large conglomerates, as it looks to restrict the flow of capital out of the country. Photo: AFP

US$416m acquisition of controlling stake by HNA in US-based Global Eagle Entertainment called off

HNA unit Beijing Shareco Technologies and Global Eagle had said Shareco would acquire up to 34.9pc of the US firm for around US$416m and become its single largest shareholder

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The cancellation of the acquisition stake by HNA in US-based Global Eagle Entertainment comes at the same time, when China’s government is increasingly scrutinising banking relationships and aggressive deal-making of some large conglomerates, as it looks to restrict the flow of capital out of the country. Photo: AFP
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