At the same time HNA announces that the Chinese National Development and Reform Commission has granted its formal approval for the takeover transaction of gategroup by HNA.
HAIKOU, PEOPLE'S REPUBLIC OF China and ZURICH, SWITZERLAND – On 20 May 2016, HNA Aviation Air Catering Holding Co., Ltd., Hong Kong, a subsidiary of HNA Group Co., Ltd., published the Offer Prospectus on the public tender offer for all publicly held shares of gategroup Holding AG.
In connection with the completion of this public tender offer, HNA Aviation Air Catering announces to keep the separate second trading line for gategroup Shares tendered into the offer open beyond the end of the additional acceptance period until shortly before the settlement of the offer. gategroup Shares tendered into the offer can therefore be traded respectively sold and acquired on the second trading line until a few days prior to the settlement of the public tender offer.
At the same time HNA announces that the Chinese National Development and Reform Commission has granted its formal approval for the takeover transaction of gategroup by HNA. This has paved the way for the subsequent clearance by the Ministry of Commerce and the State Administration of Foreign Exchange, which is expected to be forthcoming.
The closing of the transaction is also subject to the approvals of certain merger control authorities. gategroup and HNA do not foresee any merger control issues.
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