HNA Group, Bravia Capital buy stake in Turkey's ACT Airlines

The transaction is set to expand HNA's geographic reach beyond China's borders. The group, which counts George Soros among its investors, currently manages China's fourth-largest airline carrier, Hainan Airlines, and owns Minsheng, a listed department store group, an airport operator, a logistics company and a hotel operating company.

ACT Airlines, which launched in 2004, has a fleet of six freighters and aims to incorporate a new set of freighters into its fleet as part of its own expansion plans. Its global clients include DHL, Lufthansa and the U.K. Ministry of Defense, according to a statement.

HNA made the investment under its Grand China Logistics Group, which claims to be the first air-land-sea and conglomerate logistics company in China. That entity claims more than $7 billion AUM and operates a cargo airline with 14 aircrafts, as well as multiple shipping lines with more than 100 ships under mangement.

Bravia, meanwhile, is an emerging market investor that has maintained a long-standing business relationship HNA, according to Bravia's website. It advises HNA on its global expansion, and helps to process, negotiate and source capital for the firm.

The news comes less than a month after HNA was poised to outbid private equity firm Kelso for container leasing business GE SeaCo, which was put up for sale by General Electric and its joint venture partner. That dealcould fetch $2.5-3 billion, including debt.

In March, a division of HNA, Shanghai Grand China Investment Management Company, announced that it would launch a $762.7 million private equity fund with PE firm H&Q Asia Pacific to invest in logistics and consumer-related assets in China.

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• Topics
• Greater China
• Bravia Capital