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The Chinese group HNA continues its European shopping spree

1 min reading time

Published on 02/10/15 - Updated on 17/03/22

Already an important shareholder in NH Hotel Group, HNA is now the leading Spanish tourism group, Globalia, owner of the airline Air Europa. It is currently buying up minority shares in order to own 48% of the capital.

As it finalizes the takeover in France of the tour operator Fram and its subsidiaries, the Chinese group HNA is becoming increasingly involved in Spain where it is negotiating the complete takeover of 48.42% of the capital with minority shareholders of the group Globalia for around 1 billion euros. The president and CEO, Juan Jose Hidalgo, will remain a majority shareholder but accepts sharing management of the group with the new shareholders. 

HNA is now the primary shareholder of the Spanish hotel group NH and is gradually developing a network of tourism businesses in Europe that work in travel, land and air transportation, accommodations and reception. 

Observers are already anticipating the next merger.
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