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Wang Jian, who's a co-founder of HNA, a Chinese conglomerate, has died in the south of France while on holiday. It appears to have been an accident, but this death comes at a very tricky time for HNA.
The Chinese company has been on a blistering acquisition spree all over the world for about the last five years. And in doing so, it's built up huge debts. In 2017, the debts amounted to $94 billion US dollars.
And this has meant that HNA has been offloading plenty of its assets in recent months. The assets of the company include huge names such as Deutsche Bank, where it owns nearly 10%, and Hilton Worldwide, the hotel group.
So the death of Mr Wang comes at a really difficult time. It's probably going to put a lot more pressure on Adam Tan, who is the CEO of the company, to continue sorting out the restructuring process.
The key thing about Mr Wang was that he was there right from the very beginning. He was one of the two trusted lieutenants of Chen Feng, who is really the talismanic leader of this company.
And the fact that he is no longer there to guide the company could cause quite a few delays. It could cause quite a few problems with this rather delicate balancing act that HNA is going through at the moment.
