PAI Partners To Sell Swissport To HNA

July 30, 2015

European private equity firm PAI Partners has agreed to sell air cargo handler Swissport to China's HNA Group for CHF2.7 billion Swiss francs (USD$2.8 billion).

The deal, which is expected to occur around the end of the year, marks PAI's exit from the ground handling and cargo services company it bought less than five years ago for CHF900 million Swiss francs.

Swissport, which operates in 48 countries, generates operating revenue of CHF3 billion Swiss francs and handles 4.1 million tonnes of cargo a year.

(Reuters)