China's HNA in final talks to buy Germany’s Hahn airport
Owner of Hainan Airlines has been active in the travel industry, buying caterers Gate Group, a stake in Servair, plus hotels group Hilton
China’s HNA is extending its overseas merger and acquisitions spree with plans to purchase Hahn airport in western Germany.
The proposed deal marks the latest in a string of overseas acquisitions by the ambitious privately run Chinese conglomerate which, under the stewardship of chairman Chen Feng, has grown into a group with more than 600 billion yuan in assets as of September 2016 .
The deal, if it goes ahead, will help take the owner of Hainan Airlines a step closer to becoming one of the world’s top 100 companies.
HNA is in finals talks to buy the German airport as part of the group’s global expansion, according to sources with knowledge of the deal.
HNA has teamed up with local German company ADC, run by former politician Siegfried Englert, for the bid, according to Reuters.
The federal state of Rhineland-Palatinate had previously agreed to sell loss-making Hahn airport, a former military base now used mainly by Ryanair. Rhineland Palatinate owns an 82.5 per cent stake in Hahn, with the rest owned by the neighbouring state of Hesse, Reuters said.
Three bids had been received in the latest sale process, and after auditors had reviewed the offers Rhineland-Palatinate had decided to enter into final-stage negotiations with ADC and HNA, Reuters quoted the owner group as saying.