China's HNA Group has offered US$1.47bn to acquire Switzerland-based gategroup.
Gategroup's Board of Directors has unanimously supported the public tender offer. The intended acquisition comes hard on the heels of another strategic investment in 2015, which saw HNA purchase handler Swissport.
If all goes according to plan, the deal will be concluded by July, pending a minimum acceptance condition of 67% approval by regulators.
Analysts view the proposals as further evidence of HNA’s global growth plans; with its roots in Asia (HNA is the parent to Hainan Airlines as well as three other carriers), the corporation also foresees gategroup expanding its portfolio within this particular geographical region.
