China's HNA boosts Dufry stake, pursues CWT purchase plan

(Aug 21): Chinese conglomerate HNA Group has completed the acquisition of a 16.2% stake in Swiss airport retailer Dufry AG from Singaporean sovereign funds GIC and Temasek, Dufry and HNA said on Monday.

See: HNA is said to schedule long-awaited vote on US$1 bil CWT deal

No value for the deal was given, but the stake would be worth about US$1.4 billion ($1.9 billion), given Dufry's current market capitalisation of US$8.5 billion. HNA's total stake in the Swiss group will rise to 20.92%, the firms said.

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