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HNA's Shareco to buy 34.90% stake in GEE

11/10/2016| 8:48:30 AM| ChinaTravelNews 中文

HNA subsidiary Shareco will buy a 34.90% stake in US-based inflight entertainment company GEE for USD 416 million.

HNA Group's New Third Board-listed subsidiary Shareco Group of America, Inc. announced on November 9 that the company plans to buy a 34.90% stake in US-based inflight entertainment company Global Eagle Entertainment Inc (GEE) for about USD 416 million (RMB 2.8 billion) in cash, according to Shareco's disclosure file.

GEE and Shareco will form a joint venture to provide inflight entertainment and connectivity services in China.

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TAGS: Global Eagle | Shareco | HNA Group
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