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Marseille, July 4, 2018 – Grand Chinese billionaire, Wang Jian died at 57 on Tuesday after an accidental fall in the Luberon, where he was doing tourism, leaving behind a large conglomerate present in tourism, logistics and air Transport.
The founder of HNA lost his life in the village of Bonnieux (Vaucluse), in the Luberon, said the French gendarmes: " He climbed on a parapet in height to have his picture taken, and he fell "they explained, adding that the firefighters could not revive him.
According to a source close to the record, this great Chinese boss had wanted to see the panorama by climbing on a low wall. To achieve this, he gained momentum and was swept away, falling 10 meters.
The local gendarmerie brigade was charged with the investigation, which is moving towards an accident.
" We mourn the loss of an exceptionally talented leader and model, whose vision and values will continue to serve as a guide for all who have had the chance to know him ", HNA said in a statement, adding that Mr. Wang was on a business trip to France.
The fortune of this very discreet big boss is estimated at $ 1.7 billion by the American magazine Forbes.
million. Wang had specialized in civil aviation at the University of China. In the early 90s, he helped found Hainan Airlines.
– HNA, a " gray rhinoceros " –
According to the New York Times, it was thanks to a long-held collaboration with his younger brother, Wang Wei, who sold services and equipment to Hainan Airlines, that Wang Jian turned the small regional company into a big conglomerate.
Today, HNA, which developed in logistics and tourism in particular, is perceived as a " gray rhinoceros ", according to the terms of the Chinese press, that is, say one of these companies in the sights of the regime for their worrying debt. In fact, HNA has increased investments abroad, becoming in May 2017 the largest shareholder of the German bank Deutsche Bank, with 9.9%, ahead of the family of the Emirate of Qatar.
Similarly, in October 2016, the conglomerate announced the acquisition of a quarter of the capital of Hilton hotels, for 6.25 billion dollars.
HNA has spent at least $ 50 billion over the past two years in investments and equity investments, not without heated controversy over the opacity of its complex shareholding structures.
HNA thus entered the capital of several foreign airlines: Aigle Azur (France), Virgin Australia (Australia), TAP (Portugal) and Azul (Brazil).
In logistics, he got his hands on the Swiss Gategroup, service provider on board for air transport. He also announced in 2016 the purchase of the aircraft leasing branch of the US group CIT for $ 10 billion.
At the end of 2017, HNA announced that its total debt amounted to about 638 billion yuan (81.5 billion euros), up 36% from the end of 2016. Taking into account the all entities it controls, we could reach a debt of about 1,000 billion yuan, according to the Bloomberg financial agency.
At the request of the Chinese government, HNA is striving to make sales and to divest itself of expensive real estate badets to replenish its cash flow.
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