1 Min Read
ZURICH, Dec 16 (Reuters) - Chinese aviation and shipping conglomerate HNA Group will make a payment to shareholders of Gategroup Holding later this month to complete its takeover of the Swiss airline catering firm, UBS, the financial advisor on the deal, said on Friday.
"The final payment of the offer price for tendered shares will occur with the value date on or around 22 December 2016," UBS said in a statement.
HNA stepped up its global expansion in April by agreeing an all-cash deal to buy Gategroup for $1.5 billion. (Reporting by Joshua Franklin)