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Chinese HNA Group buys German airport

Economy2017-08-11

The German state of Rhineland-Palatinate has finalized  the sale of Frankfurt-Hahn airport to the Chinese conglomerate HNA, HNA  confirmed on Thursday.HNA Group has agreed to pay 15.1 million euros (17.7 million US dollars) for an 82.5% share of the airport.The  acquisition defies fears that recently passed stricter regulation on  inbound investment in Germany and outbound investment in China would  dent Chinese international mergers and acquisition activity.In  April, the regional assembly of Rhineland-Palatinate had voted in favor  of the plans to sell the public asset. The state's interior minister  Roger Lewentz expressed his conviction that a "good partner" had been  found in HNA at the time.

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The German state of Rhineland-Palatinate has finalized  the sale of Frankfurt-Hahn airport to the Chinese conglomerate HNA, HNA  confirmed on Thursday.

HNA Group has agreed to pay 15.1 million euros (17.7 million US dollars) for an 82.5% share of the airport.

The  acquisition defies fears that recently passed stricter regulation on  inbound investment in Germany and outbound investment in China would  dent Chinese international mergers and acquisition activity.

In  April, the regional assembly of Rhineland-Palatinate had voted in favor  of the plans to sell the public asset. The state's interior minister  Roger Lewentz expressed his conviction that a "good partner" had been  found in HNA at the time.

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