Deals
HNA's Gategroup Gets Temasek, RRJ Investment After Failed IPO
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Temasek Holdings Pte. and RRJ Capital agreed to invest an unspecified amount in an airline caterer owned by HNA Group Co., the Chinese conglomerate that’s selling assets after a debt-fueled acquisition spree.
The two investors subscribed to a five-year, mandatory exchangeable bond that will give them a 49 percent stake in Gategroup Holding AG upon conversion into shares, according to a statement Monday. Richard Ong, founder and chairman of RRJ, will join the board of directors.