Reports re-emerge suggesting Swissport is up for sale

By Damian Brett

Reports have re-emerged suggesting that cargo handler Swissport is up for sale.

Reuters reports that the handler’s owner, China-based conglomerate HNA, is looking to offload Swissport at a discount in order to raise cash and cut debts.

It is suggested that buyout firms Apollo Global Management and Cerberus, and asset manage Brookfield could all be interested in bidding for the company.

This is not the first time that reports have circulated that Swissport could be sold by the troubled HNA Group.

In late 2018 it was suggested that buyers were circling the company, with Brookfield named as a potential buyer in a deal worth around $3bn.

Cerberus, which purchased handler Worldwide Flight Services in 2018, was also reported to have considered buying the company in 2018.

This time round Reuters suggests that HNA will sell for around $2.3bn. HNA bought Swissport in 2016 in a $2.8bn deal.

HNA also considered listing Swissport on the SIX Swiss Exchange, but later cancelled those plans.

 

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