China's HNA to Buy Airline Caterer Gategroup for $1.5 Billion

Updated on
  • Asian company agrees to pay 20% premium for Swiss business
  • Deal will add to purchaser's global roster of aviation assets

Chinese conglomerate HNA Group Co. agreed to buy Gategroup Holding AG, the world’s second-biggest airline-catering company, for 1.4 billion francs ($1.5 billion) as billionaire Chairman Chen Feng continues an acquisition spree targeting aviation-related assets around the world.

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