gategroup Holding has introduced that Temasek and RRJ Capital have joined HNA Group as traders.
Temasek is a world funding firm headquartered in Singapore, whereas RRJ Capital is an Asian funding agency centered on non-public fairness investments in China and south-east Asia with almost US$11 billion property beneath administration.
Temasek and RRJ Capital have subscribed to a five-year necessary exchangeable bond which, upon conversion, will lead to as much as 49 per cent of the share capital of gategroup.
Adam Tan, chairman of gategroup, mentioned: “We’re more than happy that achieved, long-term centered international traders like Temasek and RRJ Capital recognise the worth in gategroup right now in addition to its future progress potential.
“We sit up for working alongside them and gategroup’s world-class administration staff to speed up the corporate’s progress technique.”
Richard Ong, founder, chairman and chief govt of the RRJ Group, will be a part of gategroup’s board.
Xavier Rossinyol, chief govt of gategroup, mentioned: “We sit up for the funding experience, monetary energy and progress monitor file that Temasek and RRJ Capital convey to gategroup, complementing the continuing extraordinary contributions of HNA.
“Our board of administrators can be additional strengthened with their expertise as we proceed to develop our Gateway 2020 technique, notably in help of our ambitions within the Asia-Pacific area.”
gategroup is the world’s largest supplier of airline catering and retail on board.