HNA Group of China Offers to Buy Gategroup for $1.5 Billion
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Gategroup’s board of directors unanimously recommended that shareholders accept the offer.CreditArnd Wiegmann/Reuters
LONDON — Gategroup Holding said on Monday that HNA Group of China had offered to buy the Swiss provider of catering and logistics services to airlines for 1.4 billion Swiss francs, or about $1.5 billion.
The transaction would expand HNA’s presence in the global aviation services industry.
HNA, which is privately held and began as an airline in 1993, operates in a variety of industries, including aviation, infrastructure and real estate, financial services and tourism. HNA is the owner of Hainan Airlines. A shipping unit of HNA agreed to acquire technology distributor Ingram Micro for $6 billion in February…
HNA Group of China Offers to Buy Gategroup for $1.5 Billion
