Deals
China’s HNA Agrees to Buy PAI’s Swissport for $2.8 Billion
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HNA Group Co., the owner of China’s fourth-largest airline, agreed to buy airport luggage handler Swissport International Ltd. from PAI Partners SAS for 2.73 billion Swiss francs ($2.81 billion).
HNA will run the operator as a stand-alone business within its group, the companies said in a statement Thursday. Swissport, the world’s largest ground and cargo handling company, provides services for about 224 million passengers and handles more than 4 million tonnes of cargo a year.