EU clears HNA’s Swissport deal

0
109
Swissport

The European Commission has cleared the acquisition of Swissport by China’s HNA Group as part of a 2.7 billion Swiss francs ($2.8 billion) deal.

On Thursday 18 November, the Commission explains the proposed acquisition would not raise competition concerns because the companies’ activities do not overlap each other.

The deal is expected to help the Swiss cargo handler broaden its reach into Europe and enter new markets.

The Commission also said the merger would not be able to shut out competing suppliers of ground handling or cargo handling services because HNA Group only had a “limited share of the demand for such services”.

HNA Group is the owner of China’s Hainan Airlines, and will buy Zurich-based Swissport from European private equity firm PAI Partners.