HNA’s SR Technics sale draws Airbus, Hainan Province
12/11/2019|10:51:58 AM|Bloomberg

HNA Group’s sale of its majority stake in Swiss aircraft-maintenance firm SR Technics has attracted interest from companies including Airbus SE as well as the government of China’s Hainan province, according to people familiar with the matter.

Other aircraft maintenance and repair organizations, known as MROs, have also expressed interest in acquiring SR Technics, the people said, asking not to be identified because the deliberations are private. For the Hainan government, a potential investment in SR Technics could lead to forming a joint venture or buying a significant stake in the company, one of the people said.

HNA has been weighing a potential sale of SR Technics as it continues with its efforts to reduce debt, Bloomberg News first reported in February. In 2016, the embattled Chinese conglomerate acquired the 80% stake in the aircraft maintenance firm from Mubadala Development Co. for an undisclosed sum. The majority of holdings could be valued at $700 million to $1 billion, people familiar with the matter have said.

Read Original Article