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HNA Group to Buy Stake in Hilton in Deal Worth about $6.5B

China's HNA Group is buying an approximately 25 percent stake in hotel operator Hilton from Blackstone affiliates in a deal worth about $6.5 billion. HNA will have a stake in Hilton and its planned spinoffs of Park Hotels & Resorts and Hilton Grand Vacations, which are expected to take place by the end of the year. As part of a stockholders agreement with Hilton, HNA will appoint two directors to Hilton's board. This brings the Hilton board to 10 members. HNA Group runs...

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