HNA Group's New Third Board-listed subsidiary Shareco Group of America, Inc. announced on November 9 that the company plans to buy a 34.90% stake in US-based inflight entertainment company Global Eagle Entertainment Inc (GEE) for about USD 416 million (RMB 2.8 billion) in cash, according to Shareco's disclosure file.
GEE and Shareco will form a joint venture to provide inflight entertainment and connectivity services in China.
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