HNA Group Co. has agreed to acquire the airport ground handler from PAI Partners SAS for $2.81 billion.
HNA Group Co. has agreed to acquire airport ground handler Swissport Group from PAI Partners SAS for CHF 2.73 billion ($2.81 billion).
The transaction is subject to regulatory and antitrust approvals by the relevant regulatory authorities. However, closing is expected by end of this year, according to a statement from Swissport.
Swissport handles about 4.1 million tons of cargo a year on behalf of some 700 customers in the aviation sector. It has 270 stations in 48 countries and a workforce of 60,000. The company generates consolidated operating revenues of CHF 3 billion per year.
Haikou, China-based HNA Group is a multinational conglomerate encompassing aviation, airport management, financial services, real estate, retail, tourism, and logistics.
HNA Group to purchase Swissport
