China’s HNA close to buying Swissport, says Bloomberg

China’s HNA Group Co is in talks to acquire airport handler Swissport International, according to the Bloomberg news agency, citing “people familiar with the matter”.
Swissport’s private-equity owner PAI Partners SAS is seeking about $3bn from a sale, claimed Bloomberg, adding: “Negotiations could still fall apart, as the two parties have struggled to agree on price in the past several months.”
It would be the fifth-biggest acquisition in Europe by a Chinese company,
The news agency said that, alongside a sale, PAI is also exploring an initial public offering with banks, as well as potential takeover interest from other parties. 
HNA, based in southern China, is the owner of China’s fourth-largest airline, Hainan Airlines. PAI agreed to acquire Zurich-based Swissport, which provides ground handling and cargo services to about 700 aviation customers, for more than $900m in 2010.

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