Air France-KLM in talks to sell stake in catering unit to China's HNA

PARIS (Reuters) - Air France-KLM is entering exclusive negotiations with China's HNA Group to sell a stake in its catering business Servair, the Franco-Dutch airline group said on Monday.A deal to sell 49.99 percent of Servair and transfer operational control to HNA would be based on an enterprise value of the catering unit of 475 million euros ($528.87 million), Air France said.Aviation and shipping conglomerate HNA stepped up its global expansion by agreeing in April an all-cash deal to buy Swiss airline catering business Gategroup Holdings for $1.5 billion."Subject to HNA's acquisition of Gategroup, Air France and HNA intend to create the leading platform in the inflight catering business," Air France said in a statement.(Reporting by Cyril Altmeyer and Maya Nikolaeva; Editing by David Goodman)Join the conversation about this story
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