China's HNA Group has made an offer to buy Gategroup, a Swiss-based airline catering firm for 1.4bn Swiss francs ($1.5bn; £1bn). 

Conglomerate HNA Group owns Hainan Airlines and is led by billionaire Chen Feng.

HNA has offered 53 Swiss francs a share for the Swiss firm, an offer which has been backed by Gategroup's board.

The transaction is expected to be completed in July if the deal is approved by regulators.

In a statement, Gategroup chairman Andreas Schmind said: "The offer reflects the fair and adequate value and quality built by Gategroup.

"It makes strategic sense that our company will become part of HNA, one of the leading providers of airport and aviation services worldwide." 

HNA family

HNA Group is the parent company of Chinese carrier Hainan Airlines, the fourth biggest operator in China. The big three - Air China, China Eastern and China Southern - are all state-owned airline groups. 

HNA also owns a number of subsidiary airlines including Hong Kong Airlines, Lucky Air and China West Air. In addition, the conglomerate's portfolio includes business interests in real estate and it also owns several retail brands in China.

Between this year and last year, HNA has spent more than $6bn buying companies in the aviation industry.

The company's chairman is attempting to cash in on continued interest in air travel in the Asian region. 

In September last year, a unit of HNA purchased an Irish aircraft leasing firm Avolon Holdings for $2.5bn.

In November, HNA spent $2.8bn to acquire airport luggage handler Swissport Group from PAI Partners SAS. 

According to industry research, China is forecast to become the world's biggest passenger market by 2034, surpassing the US.

Source: bbc.co.uk/news