Singapore’s Temasek considers stakes in HNA Units Swissport and Gategroup

Temasek Holdings is studying potential investments in Swissport Group and Gategroup Holding, both owned by HNA Group, as it considers deals with the indebted Chinese conglomerate, people with knowledge of the matter said. Temasek, which inked a partnership with the Chinese group this week, is exploring buying stakes in a number of HNA affiliates that are complementary to its portfolio companies, the people said. It may reach agreements on some of the potential deals as soon as Q3 depending on the pace of negotiations, one of the people said, asking not to be identified because the information is private. Swissport’s bonds jumped by a record. Swissport offers ground and cargo handling services at airports, while Gategroup is an airline caterer. SATS Ltd, a Singapore-listed company whose biggest shareholder is Temasek, runs similar operations. Temasek is also studying a variety of other investments in HNA units, the people said. The Singapore state investment firm is exploring spending at least a few hundred million US dollars on any deal, the person said. Any investments would be subject to commercial negotiations, and there’s no certainty the deliberations will lead to any transaction, the people said.<br/>