HNA adds to stake in airport retailer Dufry

Chinese conglomerate HNA Group has completed the acquisition of a 16.2 percent stake in Swiss airport retailer Dufry AG from Singaporean sovereign funds GIC and Temasek, Dufry and HNA said on Monday.

No value for the deal was given, but considering that Dufry's current market capitalization of $8.5 billion, the stake would be worth about $1.4 billion. HNA's total stake in the Swiss group will rise to 20.92 percent, the firms said.

HNA, one of China's most acquisitive conglomerates, now spans its business across aviation, finance, real estate, logistics, hospitality, tourism and ecological technology, and it is adding news media to its portfolio.