HNA offers $340m for controlling share in Tysan

HNA Group Co has agreed to buy a controlling stake in Hong Kong-based construction and real estate company Tysan Holdings Ltd for HK$2.62 billion ($340 million).

The owner of Hainan Airlines and travel, logistics and aviation maintenance businesses, has proposed HK$4.53 per share to Tides Holdings II for a 66 percent holding, according to a filing to the Hong Kong Stock Exchange on Monday.

The purchase price is an 11 percent premium on the stock's last-traded price.