HNA Group Moves to Acquire 16% Stake in Duty-Free Shop Operator Dufry
Yicai Global
/SOURCE : Yicai
HNA Group Moves to Acquire 16% Stake in Duty-Free Shop Operator Dufry

(Yicai Global) April 26 -- HNA Group Co., part owner of China's Hainan Airlines, is set to take a more than 15 percent stake in Swiss duty-free shop operator Dufry AG.

A press release published today by Dufry said HNA Group entered into an agreement with third parties to purchase a 16.79 percent share of the Basel-based company.

HNA Group had been speeding up its purchase of Dufry holdings in an effort to become the biggest shareholder, Bloomberg reported earlier.

Dufry's annual report showed that by the end of last year, Temasek, the Government of Singapore Investment Corp., and the Qatar Investment Authority held 8.6, 7.8, and 6.9 percent stakes, respectively.

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Keywords: HNA , Dufry , Investment