World Economy

Airline Catering Deal

Airline Catering DealAirline Catering Deal

Chinese conglomerate HNA Group Co. agreed to buy Swiss airline catering company Gategroup Holding AG for 1.4 billion francs ($1.5 billion), as billionaire Chen Feng continues on an acquisition spree of aviation assets around the world, Bloomberg reported. Shareholders would get 53 francs a share as well as the previously declared 30 centimes per share dividend, HNA said in a statement Monday. The offer is about 20% more than the closing price Friday. The acquisition builds on the airline and aviation assets the hotels-to-supermarkets conglomerate has made from Brazil to Switzerland.