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Report: Hunter Biden Group at Deal Center That Saw Strategic US Manufacturer Acquired by China



Report: Hunter Biden Group at Deal Center That Saw Strategic US Manufacturer Acquired by China
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Newly published emails from former Hunter Biden partner Bevan Cooney show a remarkably short-sighted business transaction that saw a strategic producer in the United States sold off to an aeronautics and defense corporation owned by the Chinese government.

The revelations come at the worst possible time for Hunter’s father, the Democratic presidential nominee Joe Biden.

Following Biden’s less-than-stellar performance during Thursday’s presidential debate, the emails released by Breitbart on Friday raised concerns about how dangerous his family’s business relations with the United States could be.

The emails explain some of what happened behind closed doors when the strategic American manufacturer Henniges Automotive was acquired by a Chinese state-owned corporation in 2015.

In view of Henniges’ capacity to manufacture military hardware, the approval of the U.S. Foreign Investment Committee was required to conclude the contract, according to Breitbart.

The deal may have seemed like a long one at first, partially because the Beijing Aeronautical Manufacturing Technology Research Institute — a subsidiary of the Aviation Industry Corporation or AVIC, a Chinese state-owned aerospace and defence conglomerate that was involved in purchasing Henniges — was put on the U.S. federal government watch list in 2014 for “acting contrary to natio”

Fortunately for the Chinese government, Hunter Biden’s Bohai Harvest RST equity fund — also known as BHR Partners — was more than happy to join AVIC.

According to Breitbart, the joint venture was referred to as the “Hanson Idea.” The project would eventually help to sell Henniges to a Chinese state-owned firm, the outlet reported.

“Internal BHR documents show just how the Chinese military contractor was able to cover up its ownership by shell companies and formed a joint venture with the son of the vice president to promote the Chinese acquisition of the American dual-use technology supplier,” Breitbart said.

Are Hunter Biden’s business dealings a national security concern?

“When news of the takeover of the Michigan-based manufacturer Henniges Automotive by AVIC hit the wire, Biden’s associates celebrated calling the deal a ‘proof of concept’ for potential Chinese acquisitions,” the outlet added. “Cooney’s emails (and their attachments) show how Hunter Biden’s BHR viewed the acquisition of Henniges—which they coded as ‘Project Hanson’—as a big coup and a blueprint for potential BHR’s cross-border investment.”

The Wall Street Journal backed up some information about the contract, although one source reported that AVIC had done much of the negotiations.

“In the U.S., BHR Partners participated in a $600 million acquisition by Michigan Automotive-Suspension-Systems producer Henniges Automotive in 2015, purchasing a 49 per cent stake, but a banker involved in the transaction said that the talks were mainly undertaken by Aviation Industry Corporation of China Ltd., a state-owned aircraft firm that acquired a 51 per cent stake,” The Wall Street Journal reported last year.

Most worryingly, AVIC is the business behind the J-20—the sophisticated stealth fighter championed in China as evidence of the country’s ability to arm itself well.

While the fighter jet was undergoing a flight test beginning in 2011, the public could not see a hardware demonstration until a full year after AVIC ‘s agreement to acquire Henniges had been closed.

It is not clear if any equipment or industrial capability has been transferred from American facilities to complement the Chinese stealth jet programme.

This year, China started mass development of the newest J-20 version.

The fishy deal, and the involvement of Hunter Biden in it, has not gone totally unnoticed by those in the capital of our country.

“As with the Uranium One deal, there is reason for concern that possible conflicts of interest may have affected CFIUS approval of the Henniges deal,” said Senate Finance Committee Chairman Chuck Grassley in a 2019 letter to Treasury Secretary Steve Mnuchin.

“The direct involvement of Mr. Hunter Biden and [former Secretary of State John Kerry’s stepson] Mr. [Chris] Heinz in the purchase of Henniges by the Chinese government is creating a possible conflict of interest,” the Iowa Republican added. “Both are closely linked to top Obama administration officials. The State Department, then under Mr. Kerry ‘s leadership, is also a member of the CFIUS and has played a direct role in the decision to authorise the Henniges transaction.

Although it is not clear what exactly happened to the Henniges deal to be accepted, the pace at which Hunter Biden’s bad deals are being revealed sends shock waves through his father’s 2020 presidential campaign.

As Americans go to the polls in less than two weeks ‘ time, bombers uncovering the business activities of the Biden family are sure to have a significant impact.

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