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Exclusive: Singapore's Temasek interested in buying into HNA's Hong Kong airlines: source

Reuters  |  SINGAPORE 

By and Anshuman Daga

SINGAPORE (Reuters) - Singapore state investor has expressed interest in buying into Chinese conglomerate HNA's Hong Kong-based carriers, and Hong Kong Express Airways, according to a source familiar with the matter.

However, an investment in the unlisted Hong Kong carriers by Temasek remains subject to a due diligence process that has yet to begin, said the source on condition of anonymity.

The Singaporean investor would likely emerge as only a minority holder in the Hong Kong airlines, which control valuable slots at Hong Kong's capacity-constrained airport, if a deal is completed, the source said.

Temasek and the debt-laden HNA, an aviation-to-financial services conglomerate, last week signed a memorandum of understanding to explore business partnerships in aviation and logistics.

A second source familiar with the matter said is looking to raise funds for the and Temasek is a potential investor.

Buying into the would help Temasek get an aviation foothold closer to mainland China, in a market dominated by Cathay Pacific Airways Ltd.

Temasek is the in Singapore Airlines Ltd, which sources said was not associated with the potential investment in the

Temasek, and Singapore Airlines declined to comment.

and representatives said their respective airlines would not comment on "market rumours".

(Reporting by and Anshuman in Singapore; additional reporting by in Hong Kong and Matthew Miller in Beijing; Editing by Philip McClellan)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, April 17 2018. 10:58 IST
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