March 6, 2018 / 6:16 AM / in 3 months

HNA Group's Swiss airline caterer Gategroup says to seek public listing

ZURICH, March 6 (Reuters) - Chinese conglomerate HNA Group is seeking a public listing for airline caterer Gategroup, the Swiss company said on Tuesday, potentially raising up to 350 million Swiss francs ($372.66 million) to help tackle HNA’s liquidity crunch.

Reuters reported in November that HNA, which bought Gategroup for $1.5 billion in 2016, was considering an initial public offering.

The move is the latest in HNA’s drive to restructure its far-flung operations, while raising cash by selling equity and real estate assets.

$1 = 0.9392 Swiss francs Reporting by John Revill

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