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HNA Group to purchase Swissport

Chris Gillis
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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.

Chris Gillis

Located in the Washington, D.C. area, Chris Gillis primarily reports on regulatory and legislative topics that impact cross-border trade. He joined American Shipper in 1994, shortly after graduating from Mount St. Mary’s College in Emmitsburg, Md., with a degree in international business and economics.