Beijing Xilehang Technology Co., Ltd., a subsidiary of HNA Group, and Global Eagle Entertainment Inc.GEE) jointly announced on the 9th，Xile Airlines 188bet app download spend about 4.USD 1.6 billion (approximately 2.8 billion yuan) acquisition of GEE34.9% equity，188bet app download become the single largest shareholder of the latter after the transaction is completed。The two parties 188bet app download also establish a joint venture in China，Provides space-to-ground connectivity and cabin entertainment services。

According to introduction，The transaction 188bet app download be completed in two stages。Xile Airlines 188bet app download subscribe for new shares in the first phase 9.9%，Subsequently increased holdings to 34 through subscription of new shares and transfer of old shares.9%。

Xile Airlines is a technology company focusing on the development of space-ground interconnection technology and the operation of cabin ecological platforms。GEE is the world’s third largest provider of space-to-ground interconnection solutions、The world’s largest cabin entertainment content distribution and supplier。

GEE’s current aviation Internet business covers more than 750 aircraft，For the American Southwest、Norwegian Airlines and many other airlines provide services。At the same time, its close relationship with Hollywood also gives it a leading position in the field of cabin entertainment, especially in the field of film and television aviation copyright。

Both parties also announced，A Chinese joint venture 188bet app download be established in the near future，Serving Chinese regional airlines with the world’s most advanced solutions。Xile Air 188bet app download inject most of the current business into the joint venture，GEE 188bet app download inject capital into the joint venture in the form of cash。Xile Air 188bet app download maintain its controlling position in the joint venture。

Both parties expect to complete the transaction within 3-6 months。At that time，Xilehang 188bet app download become the single largest shareholder of GEE，obtain corresponding board seats，And work with GEE to appoint key management personnel of the joint venture，Lead the daily operations of the joint venture。Two stages of investment and establishment of joint venture，It must be approved by shareholders of both parties and reviewed by relevant Chinese and American government departments。

In recent years，HNA Group’s frequent overseas mergers and acquisitions，Including the wholly-owned acquisition of Swissport, the world's largest aviation ground service and cargo service provider、Acquired the aviation leasing business of CIT Group through Avolon, a wholly-owned subsidiary of Bohai Financial Holdings。

*This article comes from China News Network

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