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Company in focus

Questions mount over HNA's financial engineering

Voracious cross-border dealmaker has increasingly complex debt profile

JOYCE HO, Nikkei staff writer | China

HONG KONG -- Amid frenzied outbound investments by mainland Chinese companies in 2016 the most voracious cross-border dealmaker by number of deals was a hospitality, aviation and finance conglomerate based in the southern province of Hainan.

HNA group splashed at least $26 billion on 21 deals, becoming the largest non-state outbound investor from China, ahead of internet company Tencent Holdings and the property and leisure conglomerate Dalian Wanda Group, according to data from Dealogic.

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