Temasek and RRJ Capital take stakes in gategroup

By Andrew Pentol |


Xavier Rossinyol, CEO of gategroup is looking forward to the ‘investment expertise’ Temasek and RRJ Capital will bring to the company.

Gategroup Holding, provider of airline catering and onboard retail, has announced that Temasek and RRJ Capital have joined HNA Group as gategroup investors.

Headquartered in Singapore, Temasek is a global investment company with a $197bn portfolio as of 31 March 2017. It is a recognised, long-term investor focused in Asia.

RRJ Capital is an Asian investment firm focused on private equity investments in China and Southeast Asia with nearly $11bn assets under management.

Temasek and RRJ Capital have subscribed to a five-year mandatory exchangeable bond which, upon conversion, will result in up to 49% of the share capital of gategroup. Richard Ong, Founder, Chairman and CEO of the RRJ Group, will join gategroup’s board of directors.


Adam Tan, Chairman of gategroup, said: “We are very pleased that accomplished, long-term focused global investors like Temasek and RRJ Capital recognise the value in gategroup today as well as its future growth potential. We look forward to working alongside them and gategroup’s world-class management team to accelerate the company’s growth strategy.”

Xavier Rossinyol, CEO of gategroup, commented: “We look forward to the investment expertise, financial strength and growth track record that Temasek and RRJ Capital bring to gategroup, complementing the ongoing extraordinary contributions of HNA.

“Our board of directors will be further strengthened with their experience as we continue to develop our Gateway 2020 strategy, notably in support of our ambitions in the Asia Pacific region.”



Middle East

JEDCO launches multi-category tenders at KAIA T1

Jeddah Airports Company (JEDCO KSA) has issued a request for proposals for several...


Alcohol insights: Conversion up, spend down in Q4

Conversion of visitors in the alcohol category in duty free has risen to 54% in Q4 2023,...

Asia & Pacific

Heinemann Asia Pacific makes breakthrough in New Zealand at AKL

Heinemann Asia Pacific is set to enter the New Zealand market with three new retail concepts at...

image description

In the Magazine

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

E-mail this link to a friend