HNA said to be in advanced talks to sell Swissport Int’l to asset manager

Swissport Int'l

China’s heavily indebted HNA Group is in advanced talks to sell its Swiss ground and cargo handler to a Canadian asset manager, according to a Bloomberg report citing people familiar with the matter.

Toronto-based Brookfield Asset Management has emerged as the preferred bidder for Swissport International, which at one point included suitors, Cerberus Capital Management and Singapore state investment company Temasek Holdings.

The sale could fetch in the neighbourhood of USD 3.0 billion and while the deal is in an advanced state, it could still change or collapse altogether, the sources noted.

The heavily indebted HNA has been selling off various assets as it struggles with massive debt which has given it the dubious honour of being China’s most indebted company.

HNA purchased Swissport in 2015 from PAI Partners for 2.73 billion Swiss francs (USD 2.8 billion), at a time when the Chinese group was on a buying spree.

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HNA in advanced talks to sell Swissport to asset manager
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HNA in advanced talks to sell Swissport to asset manager
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China's heavily indebted HNA Group is in advanced talks to sell its Swiss ground and cargo handler to a Canadian asset manager, according to a Bloomberg report citing people familiar with the matter.
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AsiaCargoBuzz.com
AsiaCargoBuzz.com
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