HNA signs MOU with Temasek to explore partnerships in aviation and logistics
10 / 04 / 2018
China’s HNA Group has signed a Memorandum of Understanding (MoU) with Temasek, a Singapore investment company, to "explore opportunities in aviation and logistics, and airport infrastructure".
Chia Song Hwee, president and chief operating officer of Temasek, said: "Temasek is a long term commercial investor. We are keen to explore investments which support longer term trends for a better, smarter and connected world of tomorrow.
"This MoU between HNA and Temasek signals the interest of our two organisations to explore common business interests and pursue opportunities to work together. In particular, opportunities in aviation, international travel and related businesses reflect the growing demands of higher incomes and a more interconnected world."
Adam Tan, chief executive of HNA Group, said: "HNA Group is a global company focused on tourism, logistics and financial services with significant operations globally. We greatly look forward to exploring mutually beneficial opportunities with Temasek.
"Our business can benefit from Temasek’s investment expertise, and equally Temasek can benefit from our experience in aviation and logistics not only in China but globally."
China’s HNA Group, which has invested in several logistics assets, is facing headwinds following a spending spree that has left the company in debt and concerns over its ownership structure.
Global ground handler Swissport Group, whose current sole shareholder is HNA Group, is to seek an Initial Public Offering (IPO) and listing of its shares on the SIX Swiss Exchange.
HNA Group, which also has significant stakes in Germany’s Hahn airport and Suparna Airlines, formerly Yangtze River Airlines, is expected to retain a long-term strategic shareholding following the Swissport IPO.
In January this year, Kuehne+Nagel (K+N) announced that it has teamed up with Temasek to invest in start-up tech firms that are developing products for logistics and supply chain operations.
Temasek’s extensive global portfolio includes majority stakes in Singapore Airlines and the Singapore ports group PSA.