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EU approves Chinese HNA's acquisition of Swiss Gategroup

Xinhua, September 21, 2016 Adjust font size:

The European Union (EU) regulators have greenlighted the acquisition of Swiss Gategroup by Chinese conglomerate HNA Group, the EU said on Wednesday.

The European Commission, the bloc's executive body, in a statement said that the acquisition would "raise no competition concerns because of its limited impact on the market structure."

HNA Group, founded in 1993, is a Chinese conglomerate encompassing core divisions of aviation, holdings, capital, tourism and logistics.

Gategroup provides catering services and retail on-board aircrafts and other related ancillary activities such as on-board service equipment and supply chain and logistics solutions or management of airport lounges. Endit