Fangda Group to acquire a stake in Hainan Airlines from HNA Group.

Fangda Group, a new building materials and semiconductor products manufacturer, agreed to acquire a stake in Hainan Airlines, an airline headquartered in Haikou, China, from HNA Group, a Chinese conglomerate. Financial terms are not disclosed. Fangda may become the controlling shareholder of the Hainan Airlines after the investment.