Chinese tycoon Wang Jian dies from fall in France

Chinese billionaire businessman 57 dies in fall during trip to France

The HNA Group Chairman Wang Jian suffered a 50 foot fall and died of resulting injuries, Reuters reports.

HNA had been aggressively expanding via takeovers in the past three years, acquiring stakes in Swissport, Gategroup, Deutsche Bank db and Hilton International hlt in a buying spree that led US lawmakers to call for a probe into the ownership of HNA.

HNA also had an agreement to buy SkyBridge Capital, the firm of former White House communications director Anthony Scaramucci, but that deal collapsed due to close scrutiny by the Committee on Foreign Investment in the US.

The obituary in English included a statement of HNA Group's board and management team, led by co-founder and Chairman Chen Feng and CEO Adam Tan.

SV&C's Ron Low, Matt Benson and Robert Rendine rep HNA. Eventually, HNA expects the foundations to own 100 per cent of the group, the company said at the time.

Wang, 57, is regarded as the architect of an eye-popping $50 billion acquisition spree that saw HNA accumulate assets ranging from a stake in Deutsche Bank AG to high-profile overseas properties.

"Wang Jian had a hereditary heart disease, and he had undergone heart surgery before", the friend told Caixin, the Chinese business and news organization based in Beijing.

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Witness accounts indicated that the death of Mr Wang was an accident, police said on Wednesday.

Wang died after a 10 meter fall off a wall, the source said.

Born in Tianjin, North China, he graduated from the Civil Aviation University of China, which was formerly the Civil Aviation Institute, with a bachelor's degree in airline management before going on to obtain an MBA from the Maastricht School of Management in the Netherlands.

For a co-founder of a regional airline in China, Wang Jian's rise to prominence in global business might come as a surprise to many.

Why China is said to be offering state support to debt-laden HNA HNA is mired in a $94 billion debt trap: will asset sales be enough?

HNA has been one of China's most active business conglomerates, snapping up a range of assets in a short period of time.

Following its now-infamous acquisition spree, the group's financial struggles began to emerge in the middle of previous year, when the Chinese government began scrutinising high-profile acquirers such as HNA, Dalian Wanda Group and Anbang Insurance Group. Growing into a multinational giant within two decades, the conglomerate now owns assets in numerous industries including aviation, real estate, financial services, tourism, and logistics.

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