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Hainan's HNA Group looks to buy Swissport International from PE firm
HAINAN Airlines's parent, HNA Group Co, wants to buy groundhandler Swissport International, a source familiar with the deal told Reuters.
European private equity firm PAI Partners, which owns Swissport, is looking to sell or hold initial public offering of the company with a valuation of EUR3.5 billion (US$3.8 billion), Reuters reported in May.
The source said HNA was one of parties interested, confirming a Bloomberg News report, but said it was one of a range of options.
"The IPO option is very popular still, lots of banks are looking at it. There are lots of parties, both financial and trade, who are keen to pre-empt the process," the source said.
Bloomberg reported negotiations could still fall apart, as the two parties have struggled to agree on price.
Swissport provides ground services for 229 million passengers and 4.1 million tonnes of cargo a year on behalf of 700 aviation clients, generating revenues of CHF3 billion (US$3.1 billion).
European private equity firm PAI Partners, which owns Swissport, is looking to sell or hold initial public offering of the company with a valuation of EUR3.5 billion (US$3.8 billion), Reuters reported in May.
The source said HNA was one of parties interested, confirming a Bloomberg News report, but said it was one of a range of options.
"The IPO option is very popular still, lots of banks are looking at it. There are lots of parties, both financial and trade, who are keen to pre-empt the process," the source said.
Bloomberg reported negotiations could still fall apart, as the two parties have struggled to agree on price.
Swissport provides ground services for 229 million passengers and 4.1 million tonnes of cargo a year on behalf of 700 aviation clients, generating revenues of CHF3 billion (US$3.1 billion).
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