Chinese conglomerate HNA has agreed to buy the Swiss airline catering company gategroup for 1.4 billion Swiss francs (US$1.5 billion), with gategroup’s management endorsing the offer.
HNA is led by Chinese billionaire Chen Feng, who has scooped a string of aviation assets in recent years, in an attempt to cash in on surging air travel business in Asia, Agence France-Presse reported.
If approved by shareholders, Chen’s acquisition of gategroup will follow HNA’s 2015 purchase of airport servicing firm Swissport for 2.73 billion francs.
Chinese firm buys Swiss airline catering company
