Chinese HNA Group buys German airport

Updated 2017-08-11 11:39:37 Xinhua

The German state of Rhineland-Palatinate has finalized the sale of Frankfurt-Hahn airport to the Chinese conglomerate HNA, HNA confirmed on Thursday.

HNA Group has agreed to pay 15.1 million euros (17.7 million U.S. dollars) for an 82.5-percent share of the airport.

The acquisition defies fears that recently passed stricter regulation on inbound investment in Germany and outbound investment in China would dent Chinese international mergers and acquisition activity.

In April, the regional assembly of Rhineland-Palatinate had voted in favor of the plans to sell the public asset. The state's interior minister Roger Lewentz (SPD) expressed his conviction that a "good partner" had been found in HNA at the time.

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