SATS’ biggest shareholder Temasek said to mull stakes in 2 HNA-owned ground services, airline catering companies

(Apr 12): Temasek Holdings is studying potential investments in Swissport Group and Gategroup Holding AG, both owned by HNA Group Co., as it considers deals with the indebted Chinese conglomerate, people with knowledge of the matter said.

Temasek, which inked a partnership with the Chinese group this week, is exploring buying stakes in a number of HNA affiliates that are complementary to its portfolio companies, the people said. It may reach agreements on some of the potential deals as soon as the third quarter depending on the pace of negotiations, one of the people said, asking not to be identified because the information is private. Swissport’s bonds jumped by a record.

Swissport offers ground and cargo handling services at airports, while Gategroup is an airline caterer. SATS Ltd., a Singapore-listed company whose biggest shareholder is Temasek, runs similar operations. Temasek is also studying a variety of other investments in HNA units, the people said.

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