Ailing Chinese conglomerate, HNA Group, has announced it has signed a Memorandum of Understanding with Temasek, a national wealth fund owned by the Government of Singapore, to explore opportunities in aviation and logistics, and airport infrastructure.
Although the exact terms of the proposed partnership were not disclosed, Bloomberg has since reported that Temasek is studying potential investments in Swissport Group and Gategroup Holding AG as well as various other HNA Group units that compliment Temasek's portfolio.
"Temasek is a long-term commercial investor. We are keen to explore investments which support longer-term trends for a better, smarter and connected world of tomorrow," Chia Song Hwee, President and Chief Operating Officer of Temasek, said. "This Memorandum of Understanding between HNA and Temasek signals the interest of our two organizations to explore common business interests and pursue opportunities to work together. In particular, opportunities in aviation, international travel and related businesses reflect the growing demands of higher incomes and a more interconnected world."
