HNA gets Chinese nod for gategroup deal

By Kevin Rozario |

HNA Group headquarters.

HNA Group headquarters.

Haikou-based HNA Group says that the Chinese National Development and Reform Commission has granted formal approval for the takeover transaction of gategroup by HNA.

“This paves the way for the subsequent clearance by the Ministry of Commerce and the State Administration of Foreign Exchange, which is expected to be forthcoming,” says Zurich-based gategroup in a statement this morning.

The closing of the transaction is subject to the approvals of certain merger control authorities, however both gategroup and HNA do not foresee any merger control issues.

On 20 May, Hong Kong-based HNA Aviation Air Catering, a subsidiary of HNA Group, published the offer prospectus on the public tender offer for all publicly held shares of gategroup.

Asia & Pacific

Asia Pacific Travel Retail Awards: The Winners

TRBusiness and m1nd-set can today (13 March) reveal the winners of the 2024 Travel Retail...

The Americas

Details emerge of JFK T1 commercial programme and duty free tender

Qualified travel retail operators are being invited to participate in a request for proposals...

International

JCDecaux research offers major passenger insights

New research insights from Ipsos UK compiled for JCDecaux provide a revised outlook of air...

image description

In the Magazine

TRBusiness Magazine is free to access. Read the latest issue now.

E-mail this link to a friend