China's HNA Group to Float Swiss Airline Caterer Gategroup
ZURICH (Reuters) - Chinese conglomerate HNA Group [HNAIRC.UL] is seeking a public listing for airline caterer Gategroup, the Swiss company said on Tuesday, raising funds to help tackle HNA’s liquidity crunch.
Reuters reported in November that HNA, which bought Gategroup in 2016, was considering an initial public offering (IPO).
The move is the latest in the aviation-to-financial services conglomerate’s drive to restructure its operations, while raising cash by selling equity and real estate assets.
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