Singapore state investor Temasek Holding is considering buying stakes in aviation infrastructure and logistics businesses of debt-saddled Chinese group HNA, said two people familiar with the matter.
Temasek and HNA have signed a memorandum of understanding to explore business partnerships in aviation and logistics, they said in a statement on Tuesday, but did not give any specific time frame or details of the partnerships.
One of the sources, who declined to be identified, told Reuters on Wednesday that neither party had reached any decision on specific investments and valuations.
HNA and Temasek declined to expand on what was said in Tuesday’s statement.
Citing sources, Bloomberg reported on Wednesday that Temasek is studying potential investments in Swissport Group and Gategroup Holding, two of the Chinese conglomerate’s overseas aviation infrastructure units.