Monday 12 November 2018
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todayonline - 29 days ago

Exclusive: HNA held talks with Ant, others as it weighs options for IT unit Pactera - sources

HONG KONG - China s HNA Group is exploring an outright sale and other options for its IT outsourcing unit Pactera and has held talks with investors including Ant Financial [ANTFIN.UL], people with knowledge of the situation said. The discussions on Pactera, which HNA bought from Blackstone in 2016 for $675 million in cash, come amid a series of sales by the heavily indebted Chinese conglomerate and show the extent of its financial crunch following a $50 billion acquisition spree.

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