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Chinese will sell all of the shares in gate group

The Chinese conglomerate HNA has found for its Swiss subsidiary gate group after the deflated IPO a year ago, a buyer. The Asian investment company RRJ Capital have agreed to acquire all of the outstanding gate group-share of HNA, said gate group on Friday.

last July, HNA announced that its Swiss subsidiary with the Singapore-born sovereign wealth Fund Temasek, together with RRJ Capital, a new investor is found. A mandatory convertible bond of the state Fund is now also more invested, it said on Friday. The completion of the transaction is to be effected in accordance with the gate group in April.

Richard Ong RRJ-founder and CEO, was quoted as saying in the message with the words that the gate the group had made good progress in the implementation of the current strategy. He is pleased to see the growth of the company goals is to support.

The former Swissair subsidiary of gate group was taken over in 2016 of HNA and from the Swiss stock exchange decoration has been discounted. Given its massive debt, the Chinese conglomerate wanted to bring back the Airline Caterer a year ago to the stock exchange. However, HNA said the IPO due to the market environment, in the last Minute. (anf/sda)

Created: 29.03.2019, 20:30 Uhr

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