HNA acquired a 51% stake in Glencore's petroleum products storage and logistics business for $775m.

Glencore has sold a 51% share of its oil product storage and logistics business to China’s HNA Innovation Finance for $775 million in cash. HGSI is a new vehicle which has consolidated Glencore's petroleum products storage and logistics businesses into a global portfolio of high-calibre assets, located in strategic trading hubs across Europe, Africa, the Middle East and the Americas.