HNA Group makes cash offer to acquire gategroup

HNA Group and gategroup Holding AG entered into a definitive transaction agreement on April 11, 2016, pursuant to which HNA launched an all cash public tender offer for all publicly held registered shares of gategroup. On July 7, 2016, HNA published the definitive notice of the interim result and declared the tender offer successful. The additional acceptance period will thereby run from July 8, 2016 through 4 p.m. CEST on July 21, 2016, with the settlement of the offer expected to occur at the end of the 3rd quarter or beginning of the 4th quarter 2016. The Board of Directors of gategroup unanimously supports the public tender offer by HNA and recommends the acceptance of HNA’s public tender offer to gategroup’s shareholders. Upon completion of the public tender offer, HNA intends to delist gategroup from the SIX Swiss Exchange and operate the company as an autonomous portfolio company within the HNA group. HNA is committed to retaining gategroup’s headquarters in Switzerland and supporting gategroup’s Gateway 2020 strategy as a responsible industrial owner with a long-term investment horizon.