China’s HNA Group is in talks to buy a 49.99 per cent stake in Air France’s Servair in a deal that would give the French carrier’s air services company an enterprise value of €475m.
The move, first reported by the FT, aims to create what is expected to be the world’s biggest airline catering company by revenues, combining Servair with Gategroup, for which HNA Group made a tender offer last month.
It also highlights the aggressive expansion of HNA, which is based in China’s tropical island province of Hainan, as it seeks to become an international force.
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