Private equity company PAI Partners announced Thursday it is selling airport ground handling and cargo company Swissport International to China's HNA Group for 2.7 billion Swiss francs ($2.8 billion, 2.54 billion euros).
Swissport, the global leader in airport ground handling and cargo services, employes around 60,000 people in 48 countries, generates annual consolidated operating revenues of around three billion Swiss francs from a client roster of nearly 700 companies.
The deal is expected to be finalised by the end of the year, following approval by competition authorities and the Chinese government.
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